G3 Technologies resolves to increase share capital by Rs500mn

MG News | May 09, 2022 at 02:38 PM GMT+05:00

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May 09, 2022 (MLN): The shareholders of the G3 Technologies Limited (PSX: GTECH) in their Extra-Ordinary General Meeting (EoGM) held on May 7, 2022, have resolved to increase the authorized share capital of the company by Rs500 million, the company's filing on PSX said on Monday.

The authorized share capital of the company increased from Rs2.5 billion divided into 250 million ordinary shares of Rs10 each to Rs3bn divided into 250mn ordinary of Rs10 each and 50mn class B Shares of Rs10 each.

The members of the company also resolved to disinvest, 22,000,000 ordinary shares of Ghani Chemical Industries Limited (GCIL) at an appropriate price not less than the net purchase price, in accordance with Section 199 of the Companies Act, 2017, read Section 183 (3) of the Companies Act, 2017.

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