Karachi: Lucky Cement Limited has announced a significant proposal to sub-divide its shares, pending shareholder approval at an upcoming Extraordinary General Meeting (EoGM). According to a disclosure on February 21, 2025, the Board of Directors of Lucky Cement Limited has recommended lowering the face value of its shares from Rs. 10 to Rs. 2 per share. This proposal, developed in a meeting held on February 20, 2025, seeks to enhance shareholder value and broaden investor participation.

The decision, made in compliance with Sections 96 and 131 of the Securities Act, 2015, and clause 5.6.1 of the PSX Regulations, will involve amending Clause V of the Company's Memorandum of Association to reflect the proposed share sub-division. The move aims to make the Company's shares more accessible to a wider range of investors. If approved, the current subscribed and paid-up capital of 293.00 million ordinary shares will be divided into 1.465 billion shares, offering shareholders five shares for each share currently held.

The EoGM is scheduled for March 18, 2025, at 12:00 noon at the Company's registered office in Khyber Pakhtunkhwa and via video link. According to information available from the Pakistan Stock Exchange (PSX), the share transfer book will close from March 11, 2025, to March 18, 2025, inclusive. Share transfers received by March 10, 2025, will be eligible for participation and voting at the EoGM. A formal notice concerning the EoGM will be issued through PUCARS in due course.

The proposed sub-division marks an effort by Lucky Cement Limited to continue delivering value to its shareholders, building on its established market presence and success. The Company's Board has expressed gratitude to shareholders for their ongoing trust and support, emphasizing the strategic importance of the proposed changes.