TPL Corp increases authorized share capital to Rs5bn

MG News | June 02, 2022 at 12:48 PM GMT+05:00

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June 02, 2022 (MLN): The shareholders of TPL Corp Limited (PSX: TPL) in the extraordinary general meeting held on June 02, 2022, have resolved to increase the authorized share capital of the company by Rs1.7 billion from Rs3.3bn to Rs5bn, the company's filing on PSX showed today.

The shareholders further resolved that the Memorandum of Association of the Company, be and is hereby amended, subject to any modifications as may be required by the Securities and Exchange Commission of Pakistan (SECP) and the fulfillment of all formalities/procedures required under the applicable law.

It was further resolved that the company is being authorized to make further equity investments and/or advance of up to Rs300 million in the subsidiary company i.e TPL Life Insurance.

The scrip of the company is currently trading at Rs9.31, down by 36 paisa or 3.72% DoD.

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