Karachi: Blue-Ex Limited, a key player in the logistics and courier industry, has announced a significant agenda for its upcoming Extraordinary General Meeting (EGM) scheduled to take place on February 21, 2024, at 04:30 p.m. The meeting will be held at Plot # 5, Bangalore Town, Near Awami Markaz, Shahrah-e-Faisal, Karachi, Pakistan.
The cornerstone of the EGM agenda is the proposal to issue 1,000,000 new shares, each valued at PKR 10.00. These shares are to be issued at an issue price of PKR 65.00 per share, incorporating a premium of PKR 55.00 per share. This issuance is expected to generate an aggregate subscription sum of PKR 65.00 million. The new shares are set to be issued via an ‘other than rights’ issue, pending approval from the company’s shareholders and relevant commissions.
Blue-Ex Limited is taking a crucial step towards expanding its capital base through this share issuance. The initiative is aimed at enhancing the company’s financial position and supporting its business growth strategies. The designated market category for Blue-Ex Limited reflects its involvement in the logistics and courier services sector, a rapidly growing market in Pakistan.
According to information available from the Pakistan Stock Exchange (PSX), the proposal highlights the company’s strategic plan to capitalize on emerging market opportunities and increase shareholder value. The resolution authorizing the issuance of these shares will empower the Chief Executive Officer, Company Secretary, and Chief Financial Officer to take necessary actions to execute this plan effectively.
Shareholders are encouraged to participate in the decision-making process by casting their votes through postal ballot, which can be submitted via post or email to the Chairman of Blue-Ex Limited. The deadline to ensure ballot papers are considered is February 20, 2025. Ballots received after this date will not be eligible for voting.
This move by Blue-Ex Limited signifies its commitment to fostering growth and maintaining a competitive edge in the logistics and courier industry. The outcome of the EGM and the subsequent decisions will be pivotal for the company’s future trajectory.