Lahore: In a significant development, the Company has announced a major reduction in its paid-up share capital, following an order passed by the Honourable Sindh High Court. The decision, which was disclosed on July 3, 2026, involves a reduction of the company's share capital from Rs. 2.85 billion, consisting of 284,866,896 ordinary shares at Rs. 10 each, to Rs. 430.53 million, comprising 43,052,984 ordinary shares of the same value.

According to information available from the Pakistan Stock Exchange (PSX), this move will result in the cancellation and extinguishing of 241,813,912 ordinary shares, reflecting a proportionate reduction of 84.886631405% in all existing shares. The company's share transfer books will close on Saturday, July 11, 2026, to determine entitlements for the new, reduced shares.

Shareholders listed in the Register of Members as of the close of business on Friday, July 10, 2026, will be eligible to receive the new shares. Transfers received by the Company's Share Registrar, M/s CorpTec Associates (Private) Limited, by the specified date will be processed in time for this issuance.

Additionally, all existing physical share certificates will be canceled effective July 11, 2026. Shareholders holding physical certificates must surrender them along with a certified copy of their CNIC to the Company's Share Registrar at CorpTec Associates, located at 503-E, Johar Town, Lahore, for the issuance of new certificates.

In compliance with the PSX Rule Book, the notice of this corporate action will be published in the daily "The Nation" (English) and "Nawa-e-waqat" (Urdu) on July 4, 2026. This development marks a notable shift in the company's capital structure, reflecting a very large move in its financial strategy.