Karachi: Amreli Steels Limited, one of Pakistan’s leading steel manufacturing companies, has announced an Extraordinary General Meeting (EGM) scheduled for June 17, 2026, at 04:00 pm. The meeting will take place at the Auditorium Hall of the Institute of Chartered Accountants of Pakistan in Karachi, with provisions for participation via video link. The agenda includes proposals to increase the company’s authorized share capital as recommended by the Board of Directors.
The authorized capital currently stands at Rs. 8.00 billion, comprised of 720 million ordinary shares and 80 million cumulative preference shares, each valuing Rs. 10. The company seeks shareholder approval to amend its current capital structure, increasing from Rs. 5.00 billion to Rs. 8.00 billion. This adjustment involves an increase in ordinary shares from 420 million to 720 million and a decrease in cumulative preference shares from 130 million to 80 million.
According to information available from the Pakistan Stock Exchange (PSX), the notice for the meeting, dated May 20, 2026, will be published in both English and Urdu newspapers on May 21, 2026. This ensures transparency and accessibility for all stakeholders involved.
The proposed changes to the Memorandum and Articles of Association are designed to accommodate this augmentation in authorized share capital. The resolutions to be considered are aligned with the Companies Act, 2017, which guides the procedural and legal compliance for such corporate actions.
The management has empowered its Chief Executive Officer, Chief Financial Officer, and Company Secretary to execute necessary actions, including document filings with the Securities and Exchange Commission of Pakistan, to ensure the resolutions are effectuated seamlessly. The company has also stated that these ordinary shares will carry equal voting rights and rank alongside existing ordinary shares.
The EGM will also entertain any other business discussions that may arise, pending the Chair’s permission. This development is significant within the designated market category, reflecting Amreli Steels Limited’s strategic direction and commitment to growth.