Karachi: Avanceon Limited has announced a notable expansion of its share capital under the Employees Share Option Scheme, 2022 (ESOS 2022), according to the latest report by Crowe Hussain Chaudhury & Co., dated June 5, 2026. The expansion follows the Central Depository System – Standard Operating Procedures (SOPs) of the Central Depository Company of Pakistan Limited.
According to the report, the revised paid-up capital of Avanceon Limited stands at Rs. 4.30 billion, following the issuance of additional shares. This increase is a result of 2,191,890 shares, each with a face value of Rs. 10, being issued under the ESOS 2022. Prior to the issuance, the company’s paid-up capital was Rs. 4.27 billion. The additional shares have been issued for Rs. 21.92 million, leading to the current revised capital.
According to information available from the Pakistan Stock Exchange (PSX), the share issuance under the ESOS 2022 has been executed following the necessary approvals and compliance with the SOPs. The company has confirmed compliance with all the requirements for the allotment of securities in the name of the Central Depository Company (CDC).
The report by Crowe Hussain Chaudhury & Co. also highlights that the company has met all necessary procedures, including verifying the revised paid-up capital and reviewing the resolutions by the Board’s Human Resource and Remuneration Committee. The auditors confirmed the receipt of subscription money as part of the share issuance process.
This strategic move by Avanceon Limited aligns with the company’s growth strategy, offering employees a stake in the company through the ESOS 2022. The report underscores the company’s compliance with the procedural guidelines set by the Institute of Chartered Accountants of Pakistan (ICAP) for the issuance of such certificates.
The document, while affirming the compliance and successful execution of the share issuance, emphasizes the restriction on its use and distribution, limiting it to the intended parties, including the CDC, Securities and Exchange Commission of Pakistan (SECP), and PSX.