TOMCL announces 30m right shares issuance

MG News | November 18, 2024 at 09:27 AM GMT+05:00

0:00

November 18, 2024 (MLN): The Board of Directors of The Organic Meat Company Limited (PSX: TOMCL) has decided to increase the Company’s paid-up share capital by issuing 30 million additional ordinary shares.

These shares, with a face value of PKR 10 each, will be offered as Right Shares to the Company’s members in the proportion of approximately 20.203 Right Shares for every 100 ordinary shares held (equivalent to approximately 20.203%).

The subscription price is set at Rs27 per Right Share, reflecting a premium of Rs17 per share.

The dates of closure of the Company's Share Transfer Books to determine the entitlement of the Right Shares will be communicated in due course after finalization of the offer letter/document in accordance with the provisions of the Companies (Further Issue of Shares) Regulations, 2020.

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