Hi-Tech Lubricants sets up wholly owned polymer subsidiary

October 28, 2026 (MLN): A new wholly owned subsidiary, Hi-Tech Synthetics and Packages (Private) Limited, has been incorporated to house the Polymer Business Segment carved out of Hi-Tech Blending (Private) Limited (HTBL), the operating subsidiary of Hi-Tech Lubricants Limited (PSX: HTL).

The Securities and Exchange Commission of Pakistan (SECP) issued the Certificate of Incorporation for the new entity on October 26, 2026. The move follows the corporate restructuring and operational carve-out of the polymer segment from HTBL, which was outlined in the company’s July 10, 2026 filing.

The new subsidiary has an authorized share capital of Rs10m, divided into 1m ordinary shares of Rs10 each. Its paid-up share capital is Rs1m, divided into 100,000 ordinary shares of Rs10 each.

HTL directly holds 99,980 ordinary shares in the subsidiary. The remaining 20 shares are split equally between two nominee directors, with 10 shares each, held on behalf of and in trust for HTL to meet statutory incorporation requirements.

The board of the new subsidiary has two members, both nominees of HTL. The subsidiary will entirely house and handle the carved-out Polymer Business Segment.

 The aforementioned information was disseminated through a notification to Exchange.

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