Lahore: The Board of Directors of Pace (Pakistan) Limited has approved several strategic decisions in their meeting on June 20, 2025, aimed at restructuring the company's financial standing and expanding its business activities. The decisions await necessary corporate, legal, and regulatory approvals.

The board has authorized the CEO or any director to disinvest up to 9,161,528 ordinary shares, representing 56.79% of its shareholding, in Pace Super Mall (Pvt.) Limited. These shares will be transferred to First Capital Securities Corporation Limited for a total cash consideration that will meet or exceed their fair value. Similarly, the board has approved the disinvestment of up to 250,617,131 ordinary shares, constituting 52.21% of its shareholding in Pace Barka Properties Limited. This disinvestment will involve First Capital Securities Corporation Limited, Media Times Limited, and Evergreen Water Valley (Pvt.) Limited.

The board also approved the issuance of 122,423,531 new ordinary shares at a par value of Rs. 10.00 each. These shares, offered at a 10.00% discount for a price of Rs. 9.00 per share, will settle the company's outstanding Term Finance Certificates liability. Additionally, negotiations are underway with financial institutions to convert existing financial liabilities into 14,500,000 ordinary shares under similar terms.

Furthermore, 118,888,889 new ordinary shares will be issued against immovable properties, priced at Rs. 9.00 per share, also reflecting a 10% discount. This issuance aims to enhance the company's asset portfolio.

According to information available from the Pakistan Stock Exchange (PSX), the board has also enabled the CEO to acquire print and social media operations from Media Times Limited. This acquisition will allow Pace (Pakistan) Limited to expand its presence in the media sector.

An Extraordinary General Meeting is scheduled for July 31, 2025, in Lahore, where shareholders will review and vote on these initiatives. In preparation, the company's share transfer books will close from July 25 to July 31, 2025, inclusive, with transfers processed up to the close of business on July 24, 2025.

Pace (Pakistan) Limited's actions reflect a strategic shift to optimize its investment portfolio and strengthen its market position within the designated market category.