Millat Tractors to split shares 2-for-1

April 29, 2026 (MLN): Millat Tractors Limited (PSX: MTL) has revealed a 2-for-1 stock split, alongside key corporate amendments, subject to shareholder approval at an upcoming Extraordinary General Meeting (EOGM).

The Board of Directors, in its meeting held on April 28, 2026, recommended sub-dividing the face value of shares from Rs10 to Rs5, effectively doubling the number of shares held by investors.

Under the proposed restructuring, shareholders will receive two shares for every one share held, with the total number of shares increasing from 199.52 million to 399.03 million.

The company stated that the move aims to enhance shareholder value, improve liquidity, and broaden participation from retail investors by making the stock more accessible.

In addition, the Board has proposed an amendment to Clause V of the Memorandum of Association to reflect the revised share structure.

To seek shareholder approval, the EOGM will be held on June 5, 2026, at the company’s registered office in Lahore, with provisions for virtual participation.

The share transfer books will remain closed from May 30 to June 5, 2026 (both days inclusive). Transfers received by May 29, 2026, will be eligible for participation and voting at the meeting.

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