Lahore: ITANZ Technologies Limited, a key player in the technology sector, secured shareholder approval to significantly increase its authorized capital during an Extraordinary General Meeting held on July 31, 2026. The decision marks a strategic move aimed at enhancing the company’s financial capabilities.
According to the certified resolutions presented at the meeting, ITANZ Technologies Limited received the green light to raise its authorized capital from Rs. 1.20 billion to Rs. 5.00 billion. This increase translates to an additional Rs. 3.80 billion, allowing the company to expand its ordinary shares from 120 million to 500 million, each valued at Rs. 10.
The meeting, which was conducted both in-person at the LSE Auditorium in Lahore and virtually through a video conference, commenced at 03:30 PM. The agenda included the confirmation of minutes from a previous meeting held on June 27, 2026, alongside a critical discussion on the proposed capital increase.
The resolution to augment the capital was part of a special business agenda, necessitating amendments to the company's Memorandum and Articles of Association. Clause VI of the Memorandum and Clause 4 of the Articles have been revised to reflect the new authorized capital structure.
According to information available from the Pakistan Stock Exchange (PSX), this substantial increase in authorized capital is a noteworthy development for ITANZ Technologies Limited in the designated market category. The decision underscores the company's strategy to bolster its market position by potentially enhancing its operational and investment capabilities.
The resolution further empowered the Chief Executive Officer, Chief Financial Officer, and Company Secretary of ITANZ Technologies to undertake all necessary actions to implement the changes. This includes filing requisite documents with the Registrar of Companies and complying with regulatory obligations as per the Companies Act, 2017. The ordinary shares, upon issuance, will maintain equal voting rights, aligning with the existing shares in all respects.