JS Infocom approves share buyback plan worth up to Rs600m

MG News | October 29, 2025 at 01:53 PM GMT+05:00

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October 29, 2025 (MLN): The Board of Directors of JS Infocom Limited, a wholly owned subsidiary of Jahangir Siddiqui & Co. Ltd., has approved a plan to buy back up to 60 million of its fully paid-up ordinary shares at a maximum price of Rs10 per share.

The move, approved at a board meeting held on October 28, 2025, aims to rebalance and optimally reorganise the company’s balance sheet, as stated in a notice to the Pakistan Stock Exchange (PSX).

The buyback to be carried out in accordance with Section 88 of the Companies Act, 2017 and Chapter IX of the Companies Regulations, 2024, will be financed through the company’s available distributable profits.

Following the repurchase, all acquired shares will be cancelled, resulting in a reduction in the company’s issued share capital by the aggregate nominal value of the cancelled shares.

The proposal remains subject to approval from the company’s members via a special resolution and any other necessary corporate and regulatory clearances.

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