Thatta CEMENT COMPANY LIMITED has announced plans to provide its regular shares, which reduced the nominal value from 10 rupees per share to 2 rupees per share with the rate of division of 5: 1, according to the company’s report on the Pakistani Stock Exchange (PSX) on Friday.
The Board of Directors recommended the sub-division of the company’s regular shares by reducing the nominal value from 10 rupees/- to 2/rupees per share, according to Article 85 (1) (c) of the Companies Law, 2017.
This step aims to make stocks easier for retail investors and increase market liquidity, according to a statement issued by the company. The company council recommended that the shareholders agree to the decision at the next extraordinary general meeting (EGOM), scheduled for May 29, 2025.
In line with the proposed shares division, the current capital of the company will be restructured, which includes 99,718,125 ordinary shares with a value of 10 rupees each, to 498,590,625 shares of 2 rupees each. The shareholders will receive 5 new shares for each detained share, which is valid on a date that is determined after EGOM.
The Board of Directors also recommended the amendments to the company’s memo and the association’s articles to reflect this change. The decision is expected to enhance the presence of the company’s market and enhance long -term growth by expanding the investor base.
The company has also announced that the stock transfer books will remain closed from May 22 to May 29, 2025. Shares are urged to ensure their shares are registered by May 21 to attend and vote at the meeting.
The Tatta CEMENT step is seen as part of a broader strategy to enhance its position in the stock market and attract more investments.
