Lucky Core Board approves share face value sub-division

MG News | May 13, 2025 at 09:19 AM GMT+05:00

0:00

May 13, 2025 (MLN): The Board of Directors of Lucky Core Industries Limited (PSX: LCI) has approved a sub-division of the face value of the Company's shares, subject to Members' approval.

The proposal seeks to reduce the face value of each ordinary share from Rs10 to Rs2 per share.

Following the sub-division, the Company's subscribed and paid-up capital currently consisting of 92.36 million ordinary shares of Rs10 each will be restructured into 461.79m ordinary shares of Rs2 each, the company's filing on PSX revealed today.

Shareholders will be entitled to receive five (5) shares of Rs2 each for every one (1) share of Rs10 held, as of the effective date, which will be announced later, subject to necessary approvals in line with Section 85(1)(c) of the Companies Act, 2017.

An Extraordinary General Meeting will be convened in due course to obtain Members' approval for the proposed changes.

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