Karachi: Lotte Chemical Pakistan Limited has announced the convening of an Extraordinary General Meeting (EOGM) scheduled for September 22, 2026, at 11:00 a.m. The meeting will take place at the National Institute of Banking & Finance, Pakistan, located on M.T. Khan Road, Karachi, and will also be accessible via video-link. The agenda includes two key proposals: a significant increase in authorized share capital and a change of the company's name.

The first item on the agenda is a proposal to double the company's authorized share capital. The current authorized share capital stands at Rs. 20.00 billion, divided into 2.00 billion ordinary shares at Rs. 10 each. The proposed resolution seeks to increase this to Rs. 40.00 billion, expanding the number of ordinary shares to 4.00 billion. This move is in accordance with Section 85 of the Companies Act, 2017, and the Companies Regulations, 2024.

Additionally, the company intends to amend its Memorandum and Articles of Association to reflect the new authorized capital structure. The planned revisions to Clause (V) will formally set the authorized share capital at Rs. 40.00 billion, as outlined in the proposed resolution.

The second item for consideration is a change in the company's name. Lotte Chemical Pakistan Limited proposes to rebrand itself as Noventra Limited. This decision, presented under Section 12 of the Companies Act, 2017, will also require amendments to the Memorandum and Articles of Association to replace all references to the old name with the new name.

The company’s leadership, including the Chief Executive, Chief Financial Officer, and Company Secretary, has been empowered to manage the legal and procedural requirements associated with these changes. This includes filing necessary documentation with the Securities and Exchange Commission of Pakistan and other relevant authorities.

According to information available from the Pakistan Stock Exchange (PSX), these proposals are part of a strategic initiative to align the company’s identity and capital structure with its future business objectives. The financial markets will be closely observing the outcomes of the EOGM, given the potential implications for the company's market position.

A statement detailing the material facts of the special business to be transacted accompanies the notice of the meeting, providing shareholders with comprehensive information to make informed decisions during the EOGM.