May 24, 2021 (MLN): Siddiqsons Tin Plate Limited (STPL) has increased its authorized share capital from Rs3bn to Rs6bn by the creation of 300mn ordinary shares of Rs. 10/= each.
This increase in share capital is subject to the same rights and privileges to which the existing capital is under the Memorandum and Articles of Association of the Company.
The company further amended the existing Clause V of the Memorandum of Association of the company by substituting the following Clause:
“The authorized share capital of the Company is Rs. 6,000,000,000/- (Rupees Six Billion Only) divided into 600,000,000 (Six Hundred Million Only) ordinary shares of Rs10/- (Rupees Ten Only) each with powers to increase and reduce the capital of the Company and to divide the shares, in the capital for the time being into several classes, provided, however that rights, as between various classes of ordinary shares if any, as to profits, votes and other benefits shall be strictly proportionate of the paid-up value of the shares.”
It also resolved to amend the existing capital clause 5 of Article of Association of the company by substituting the following Clause:
“The authorized share capital of the Company is 6,000,000,000/- (Rupees Six Billion Only) divided into 600,000,000 (Six Hundred Million Only) ordinary shares of Rs. 10/- (Rupees Ten Only) each with power to increase, reduce the capital and to divide the shares in the capital for the time being into several classes provided, however that right, as between various classes of ordinary shares if any, as to profits, votes and other benefits shall be strictly proportionate of the paid-up value of the shares.”
