Karachi: The Central Depository Company of Pakistan Limited (CDC) has announced a significant enhancement of its paid-up capital through the issuance of shares under the Employees Share Option Scheme 2022. On January 17, 2025, the company successfully allotted 2,548,593 shares to eligible employees who exercised their options, increasing the paid-up capital from 415.02 million to 417.57 million shares.

The issuance, categorized under the designated market category of credit of securities into the Central Depository System, was conducted without a right offer under Section 83A of the Companies Act, 2017. The issuance was duly approved by the Commission/Registrar as per a letter dated February 9, 2022.

The closing market price for these shares, on the date of their credit to the respective CDC sub-accounts of the entitled employees, was Rs. 58.66 per share. This allotment not only reflects the company's commitment to its employees but also marks an important milestone in its capital expansion strategy.

Additionally, the Central Depository Company of Pakistan Limited has confirmed the credit of 2,548,593 securities of "Avanceon Limited" into the respective accounts within the Central Depository System as of January 17, 2025. This further issue was also executed without a right offer.

According to information available from the Pakistan Stock Exchange (PSX), the latest adjustments have increased the company's paid-up capital to 417.57 million securities. The CDC has requested stakeholders to verify the updated records and report any discrepancies promptly.

For any further inquiries or detailed information, stakeholders are encouraged to reach out to the Central Depository Company of Pakistan Limited.