Karachi: Lotte Chemical Pakistan Limited has announced intentions to significantly increase its authorized share capital and rebrand itself as Noventra Limited, pending the necessary approvals. This disclosure was made under the guidelines of the Securities Act, 2015, and relevant sections of the PSX Rule Book.

On August 31, 2026, the company reported that its Board of Directors, via a circular resolution dated August 28, 2026, resolved to seek approval from the company's members to double its authorized share capital. The proposed increase will raise the capital from Rs. 20.00 billion, divided into 2 billion ordinary shares at Rs. 10 each, to Rs. 40.00 billion, consisting of 4 billion ordinary shares at the same nominal value.

Additionally, the Board has resolved to change the company's name from Lotte Chemical Pakistan Limited to Noventra Limited. The proposed changes will necessitate corresponding amendments to the company's Memorandum and Articles of Association.

For the changes to take effect, a special resolution in line with Section 85 and Section 12 of the Companies Act, 2017, is required. The Board has scheduled an extraordinary general meeting (EOGM) for September 22, 2026, to deliberate on these proposals. The company's share transfer books will be closed from September 15, 2026, to September 22, 2026, both days inclusive.

According to information available from the Pakistan Stock Exchange (PSX), the decision marks a strategic move by the company to enhance its capital structure and brand identity in the market.

The notice for the EOGM will be communicated through PUCARS as required. The company's registered office remains located in the Eastern Industrial Zone, Port Qasim, Karachi, with contact details provided for company secretary Faisal Abid.