Karachi: Lotte Chemical Pakistan Limited has issued a notice announcing an Extraordinary General Meeting (EOGM) scheduled for September 22, 2026, at 11:00 a.m. The meeting will be held at the National Institute of Banking & Finance on M.T. Khan Road in Karachi, with a video-link arrangement available for remote participation. The agenda includes significant resolutions that could reshape the company's future.

The first item on the agenda is a proposal to increase the company's authorized share capital. Shareholders will consider approving a substantial increase from Rs. 20 billion, represented by 2 billion ordinary shares of Rs. 10 each, to Rs. 40 billion, comprising 4 billion ordinary shares of Rs. 10 each. This proposal, if approved, will necessitate amendments to both the Memorandum and Articles of Association of the company, aligning with Section 85 of the Companies Act, 2017 and the Companies Regulations, 2024.

In addition to the increase in share capital, Lotte Chemical Pakistan Limited is also seeking shareholders' approval to change its name to Noventra Limited. This change, proposed under Section 12 of the Companies Act, 2017, will require alterations to the company's legal documents to reflect the new name. The company plans to replace "Lotte Chemical Pakistan Limited" with "Noventra Limited" in all official documents, pending necessary approvals.

The company's management, including its Chief Executive, Chief Financial Officer, and Company Secretary, will be granted authority to ensure compliance with applicable laws, including filing the necessary documents with the Securities and Exchange Commission of Pakistan and relevant authorities. This includes updating the company's Memorandum and Articles of Association to reflect the proposed changes.

According to information available from the Pakistan Stock Exchange (PSX), Lotte Chemical Pakistan Limited's market activities fall within the designated market category, and these proposed changes could have a significant impact on its operations and market perception.

A detailed statement outlining the material facts related to these special resolutions has been provided to shareholders, as required under Section 134(3) of the Companies Act, 2017. The upcoming EOGM represents a pivotal moment for Lotte Chemical Pakistan Limited as it seeks to expand its financial capacity and rebrand under a new corporate identity.