Lahore: The Bank of Punjab (BOP) has announced a significant equity injection proposal and an increase in directors’ remuneration, following a report dated August 19, 2026. The proposal will be presented at the Extra-Ordinary General Meeting (EOGM) scheduled for September 8, 2026, at Avari Hotel, Lahore.

The key agenda for the EOGM includes a plan for an equity injection of up to PKR 30.0 billion by the Government of Punjab (GoPb) through the issuance of ordinary shares. This issuance, which is not a right issue, will occur in phases, pending necessary statutory, corporate, and regulatory approvals. The pricing mechanism for these shares will be determined either at PKR 38.20 per share or, if the market price exceeds this amount at the time of issuance, at the market price plus a 5% premium.

According to information available from the Pakistan Stock Exchange (PSX), the proposal also includes an initial equity contribution of up to PKR 10.0 billion from the GoPb as advance subscription money. This advance is contingent upon completing all requisite approvals and the subsequent issuance of shares. The plan further outlines the issuance of shares against cash subscriptions of up to PKR 15.0-20.0 billion by December 31, 2026, and the remaining shares for up to PKR 10.0-15.0 billion by June 30, 2027.

Additionally, the bank seeks approval to increase the remuneration for its directors. The proposal suggests raising the director's remuneration, including the Chairman's, for attending Board and Sub-Committee meetings to Rs. 395,000, net of taxes. This change requires amendments to the Board Remuneration Policy, specifically clauses 4.1.2, 4.3.1, 4.3.2, 5.1.2, 5.1.4, and 6.13.1.

The President & CEO, CFO, and Company Secretary of BOP have been authorized to execute all necessary agreements and documents related to these resolutions, ensuring compliance with requirements from relevant authorities, including the State Bank of Pakistan and the Securities & Exchange Commission of Pakistan.