Pak-Gulf Leasing Board approves doubling authorized capital to Rs1bn

MG News | September 29, 2026 at 10:06 AM GMT+05:00

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September 29, 2026 (MLN): Pak-Gulf Leasing Company Limited (PSX:PGLC) has approved a proposal to double its authorized share capital to Rs1bn from Rs500mn, subject to shareholders' approval by way of a special resolution and requisite regulatory clearances.

The company's Board of Directors, at its meeting held on September 28, 2026, cleared the increase in authorized capital to 100mn ordinary shares of Rs10 each, up from the existing 50mn ordinary shares of the same denomination.

The Board also approved amendments to the Object Clause and other provisions of the Memorandum and Articles of Association, to enable the company to cover Investment Finance Services (IFS) as permissible under applicable NBFC Rules and Regulations.

Detail	Existing	Proposed
Authorized share capital	Rs500mn	Rs1bn
Number of ordinary shares	50mn	100mn
Face value per share	Rs10	Rs10

Both matters the increase in authorized capital and the amendments to the Memorandum and Articles of Association will be placed before shareholders for approval at the Annual General Meeting (AGM) scheduled for October 27, 2026.

The aforementioned information was disseminated through a notification to Exchange.

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