Karachi: Kohinoor Spinning Mills Limited has successfully amended its Memorandum and Articles of Association, and expanded its authorized share capital, as resolved during an Extraordinary General Meeting (EOGM) held on September 12, 2024, in Lahore. According to information available from the Pakistan Stock Exchange (PSX), these strategic amendments aim to streamline corporate operations and accommodate future growth.
The shareholders approved a significant increase in the authorized share capital from Rs. 2.20 billion to Rs. 3.00 billion, redistributing the capital into 600 million ordinary shares priced at Rs. 5 each. This adjustment aligns with the company’s growth strategy and is intended to enhance its capital structure for upcoming ventures.
Further resolutions authorized the Chief Executive and Company Secretary to undertake all necessary actions to implement these changes, including compliance with regulatory filings and adjustments as advised by the Securities and Exchange Commission of Pakistan (SECP) and the Registrar of Companies. This includes any future amendments that may be directed by regulatory bodies, which will not require another shareholder meeting to become effective.
This proactive approach by Kohinoor Spinning Mills ensures that the company remains compliant with regulatory standards while positioning itself for sustainable growth and operational efficiency.