SPEL to sub-divide its shareSPEL to sub-divide its share's fac face value from Rs10 to Rs5 each

MG News | August 25, 2021 at 10:36 AM GMT+05:00

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August 25, 2021 (MLN): The Board of Directors of Synthetic Products Enterprises Limited have considered and recommended to sub-divide the face value of the Shares of the Company from Rs10 to Rs5 each, by way of increasing the number of shares to double, in accordance with section 85 (1) (b) of the Companies Act 2017.

In addition, the board also recommended to increase the Authorized Capital of the Company from Rs1bn to Rs1.5bn, Company notice to PSX said.

The aforementioned recommendations will be approved by the shareholders of the Company in the upcoming Annual General Meeting.

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