Air Link Communication Limited Announces Disclosure of Material Information and Calls for Extraordinary General Meeting

Karachi, In a recent development, Air Link Communication Limited has disclosed crucial information regarding its operations. The company's Board of Directors has recommended several significant measures, which will be subject to the approval of the members of the Company. To discuss these proposals, an extraordinary general meeting has been scheduled.

Firstly, the Board has proposed an increase in the Authorized share capital of Air Link Communication Limited from Rs. 6 billion to Rs. 10 billion. This step aims to strengthen the company's financial position and support future growth initiatives. The corresponding alterations to the Memorandum and Articles of Association will be presented for approval.

Secondly, the Board has recommended the addition of a new clause, namely clause 84, in the Articles of Association. This clause pertains to the capitalization of reserves and is aimed at optimizing the company's financial structure. The approval of the members will be sought before implementing this amendment.

Additionally, the Board has proposed granting authorization to the Board of Directors to declare the issuance of bonus shares from the reserve or undistributed profit of the Company. This move reflects Air Link Communication Limited's commitment to maximizing value for its shareholders.

In an effort to enhance transparency and accessibility, the Board has recommended the incorporation of a QR enabled code and weblink within the annual audited financial statements. This initiative will enable members to easily access the financial information of the company.

To discuss and seek approval for the aforementioned proposals, Air Link Communication Limited has scheduled an extraordinary general meeting. The meeting is set to take place on Monday, June 26, 2023, at 10:30 a.m. The venue for the meeting will be the Pearl Continental Hotel in Lahore.

This meeting will provide an opportunity for the members of Air Link Communication Limited to voice their opinions, ask questions, and ultimately decide on the future course of action for the company. With these proposed measures, Air Link Communication Limited aims to strengthen its position in the market and ensure sustained growth for the benefit of its shareholders.