Lalpir Power board proposes business shift, company name change
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MG News | April 01, 2026 at 10:55 AM GMT+05:00
April 1, 2026 (MLN): The Board of Directors of Lalpir Power Limited (PSX: LPL) has recommended several significant matters for approval by the company's shareholders.
The Board has proposed a change in the principal line of
business of the company, along with alterations in the Memorandum of
Association.
Additionally, the Board has recommended changing the name of
the company, subject to approval and availability of the name by the Securities
and Exchange Commission of Pakistan (SECP), according to the company's
statement issued today.
Furthermore, the Board has recommended the disposal and sale of plant and machinery, a sizeable part of buildings, stores, spare parts, and other consumables ("the Assets") of the company.
The Board has also
sought shareholder approval for an Alternate Business Plan for the company.
These proposals will be presented to shareholders for their formal approval.
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