PKGS greenlights IFC preference share redemption
MG News | January 28, 2026 at 10:13 AM GMT+05:00
January 28, 2026 (MLN): Packages
Limited's (PSX:PKGS) has approved the redemption of 2,000,000 preference
shares/convertible stock as requested by International Finance Corporation (IFC),
Washington D.C., U.S.A.
The preference shares were issued under a Redemption Notice
dated January 23, 2026, pursuant to a Subscription Agreement with IFC dated
March 25, 2009, according to the company's statement issued today.
The board has authorized the Chief Executive Officer and
Chief Financial Officer of the company to negotiate the redemption price with
IFC and finalize the terms with mutual consent.
Currently, 8,186,842 preference shares/convertible stock
remain outstanding, which were originally issued to IFC under the Subscription
Agreement dated March 25, 2009, as per the company's Articles of Association.
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