DSL resolves to increase paid-up share capital by Rs1.29bn

February 10, 2022 (MLN): Dost Steels Limited (DSL) has resolved to increase the paid-up share capital of the company from Rs3,157,338,600 to Rs4,446,955,770 by the issuance of additional 128,961,717 ordinary shares of the face value of Rs10 each by way of otherwise than right shares, a notice to PSX revealed.

The shares will be offered at an issue price of Rs4.07 per share (at a discount of 59.03% to par value) to Mr, Khawaja Shahzeb Akram, being the potential investor (including his nominees).  

According to the notice, these shares when issued shall from the date of their allotment, rank pari passu in all respects with the existing fully paid ordinary shares.

In an extraordinary general meeting, the company also resolved that the Chief Executive Officer of the company be and are hereby authorized to enter into and execute such documents as may be required in relation to the further issue of shares otherwise than right shares and to complete all necessary corporate, regulatory and legal formalities including the execution of necessary documents, lenders approvals and the Securities and Exchange Commission of Pakistan.

The Chief Executive Officer is also authorized to delegate his powers to any person he may deem appropriate, it added.

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