Karachi: Lucky Cement Limited has officially announced the schedule for the book closure related to the sub-division of its shares, following the resolutions passed by its shareholders during an Extraordinary General Meeting held on March 18, 2025. The face value of the shares will be reduced from Rs. 10 per share to Rs. 2 per share, allowing shareholders to receive five shares of Rs. 2 each for every one share of Rs. 10 held.
The Pakistan Stock Exchange (PSX) has advised the company to adhere to a detailed schedule that includes the forced closure of Lucky Cement future contracts on April 15, 2025, covering the contracts for April, May, and June. The settlement of these contracts is set for April 17, 2025. Any failed settlements in deliverable future contracts will be addressed on April 18, 2025, designated as the square-up day.
Trading of Lucky Cement shares in the Ready Market will be suspended starting April 21, 2025. The book closure period will commence on April 23, 2025, and conclude on April 25, 2025. According to the announcement, the shareholders whose names appear in the Register of Members by April 22, 2025, will be eligible for the newly sub-divided shares.
According to information available from the Pakistan Stock Exchange (PSX), trading in ordinary shares is scheduled to resume on April 28, 2025. Additionally, new future contracts for May, June, and July will be listed on the same date.
Shareholders holding physical share certificates are required to surrender their original certificates with verified transfer deeds to M/s. CDC Share Registrar Services Limited, located in Karachi, after April 25, 2025. This process is necessary for the exchange of share certificates reflecting the new sub-divided shares. The designated market category for these proceedings is the Pakistan Stock Exchange (PSX).
The company has also issued a notice to be published in both English and Urdu newspapers, addressing all shareholders. The notice highlights the requirement for shareholders to take action by the specified dates to ensure their entitlement to the sub-divided shares.