Karachi: At the Extraordinary General Meeting held on September 22, 2026, Lotte Chemical Pakistan Ltd announced significant corporate changes, including an increase in authorized share capital and a rebranding initiative.

The meeting, which took place at the National Institute of Banking & Finance, Karachi, was convened in accordance with PSX Regulations to deliberate on the proposed changes. Shareholders passed resolutions to double the company's authorized share capital from Rs. 20 billion to Rs. 40 billion. This change will involve the issuance of 4 billion ordinary shares valued at Rs. 10 each, as outlined in the amendments to the company's Memorandum and Articles of Association.

According to information available from the Pakistan Stock Exchange (PSX), the resolution to increase the capital reflects the company's strategy to bolster its financial base and enhance its market position within the designated market category.

Additionally, shareholders approved the proposal to change the company's name to Noventra Limited. This rebranding is expected to align with the company's evolving business strategy and market expansion goals. The approved changes also include necessary amendments to the company's Memorandum and Articles of Association to reflect the new corporate identity.

The resolutions authorize the Chief Executive, Chief Financial Officer, or Company Secretary to undertake the required legal and regulatory processes to implement these changes, including filing necessary documents with the Securities and Exchange Commission of Pakistan.

These strategic initiatives mark a significant phase in the company's evolution, aiming to strengthen its operational capabilities and market presence.