Karachi: Lucky Core Industries Limited has announced an Extraordinary General Meeting (EOGM) scheduled for June 20, 2025, to be held at Karachi and accessible via video-conferencing. This meeting is set to address significant corporate changes, including the subdivision of the company's share capital.
The announcement, made public on May 30, 2025, includes a notice alongside a ballot paper, which will be dispatched to company members and published in both English and Urdu language newspapers. This move complies with Regulation 4 of the Companies (Postal Ballot) Regulations, 2018, providing an e-voting facility for members. The procedure for e-voting will be conveyed by FAMCO Share Registration Services (Private) Limited, the company's share registrar, through registered email addresses.
The core agenda of the EOGM includes the proposal to alter the company's share capital structure. Specifically, each ordinary share with a face value of Rs. 10 is proposed to be subdivided into five ordinary shares of Rs. 2 each. This change is aimed at increasing the number of shares without affecting the rights and privileges of the shareholders. The proposal will require approval as a Special Resolution, in line with Section 85(1)(c) of the Companies Act, 2017, and Article 31(c) of the company’s Articles of Association.
According to information available from the Pakistan Stock Exchange (PSX), the proposed subdivision aims to enhance liquidity and potentially make the shares more accessible to a broader range of investors. The company has also taken steps to amend Clause 5 of its Memorandum of Association to reflect these changes, ensuring compliance with all statutory requirements.
The Chief Executive, Chief Financial Officer, and Company Secretary of Lucky Core Industries Limited have been jointly and severally authorized to undertake all necessary actions to implement the resolutions passed during the EOGM. This includes completing all legal formalities essential to achieving the resolution's objectives.
The company's initiative to provide detailed instructions and facilitate member participation through digital platforms reflects an adherence to modern regulatory standards and a commitment to shareholder engagement. The resolution is accompanied by a Statement of Material Facts, as mandated by Section 134(3) of the Companies Act, 2017, detailing the special business to be transacted at the EOGM.