Karachi: Shareholders of LSE Financial Services Limited convened on June 9, 2026, for an Extraordinary General Meeting at the company's registered office, where they unanimously passed several critical resolutions. The meeting, which adhered to Clause 5.6.9 (b) of the Rule Book of Pakistan Stock Exchange Limited, included both ordinary and special business.
During the meeting, shareholders confirmed the minutes of the Annual General Meeting held on November 27, 2025. This resolution was swiftly passed, setting the stage for the discussion of more substantive matters.
The most notable decision from the meeting involved a significant change to the company's share structure. The shareholders approved a stock split, reducing the par value of each share from Rs. 10.00 to Rs. 1.00. According to the resolution, the company's authorized capital of Rs. 429.00 million will now be divided into 429.00 million ordinary shares, each valued at Rs. 1.00. The company secretary has been authorized to amend the Memorandum and Articles of Association to reflect this change. The Board of Directors is empowered to determine the entitlement dates and book closure dates necessary to implement the stock split.
Additionally, shareholders approved a resolution for potential investment in special purpose acquisition companies (SPACs). According to information available from the Pakistan Stock Exchange (PSX), the company plans to invest up to PKR 100 million at the pre-IPO stage in any forthcoming SPAC. This move aligns with the previously granted approval for investments with associated companies, which capped investments at PKR 600 million and required any advances or loans to carry a minimum interest rate of six months KIBOR plus 1%.
The meeting concluded with the approval of enabling and implementing resolutions. The Chief Executive Officer and the Company Secretary were authorized to take all necessary actions to execute the approved resolutions, ensuring alignment with the company's strategic objectives.
The meeting outcomes represent a proactive approach by LSE Financial Services Limited to enhance shareholder value and explore new investment avenues within the designated market category.