Karachi: Lotte Chemical Pakistan Ltd. has announced an Extraordinary General Meeting (EOGM) scheduled for Tuesday, September 22, 2026, at 11:00 a.m. at the National Institute of Banking & Finance, M.T. Khan Road, Karachi. The meeting will also be accessible via a video-link arrangement. The notice of the meeting is set to be published on September 2, 2026.
The meeting's agenda includes two significant proposals for shareholders' consideration. The first item of business is a proposed increase in the company’s authorized share capital. The resolution seeks to double the current authorized share capital from Rs. 20.00 billion to Rs. 40.00 billion. This increase would allow the company to expand its ordinary shares from 2 billion to 4 billion, maintaining the nominal value of Rs. 10 per share.
Additionally, shareholders will vote on a proposal to change the company’s name from Lotte Chemical Pakistan Limited to Noventra Limited. This change is proposed in accordance with Section 12 of the Companies Act, 2017, which governs corporate name changes and related amendments to the company's Memorandum and Articles of Association.
According to information available from the Pakistan Stock Exchange (PSX), these proposals are part of Lotte Chemical Pakistan Ltd.’s strategic initiatives to enhance its operational framework and market presence. The company has outlined the necessary legal amendments and regulatory requirements that would follow the approval of these resolutions.
The management of Lotte Chemical Pakistan Ltd. has authorized its Chief Executive, Chief Financial Officer, and Company Secretary to undertake all requisite actions to implement the proposed changes. This includes the submission of amended corporate documents to the Securities and Exchange Commission of Pakistan and other relevant authorities.
The meeting will provide shareholders an opportunity to discuss and cast their votes on these significant changes, which could potentially reshape the company's future trajectory in the designated market category.