March 20, 2023 (MLN): The shareholders of Treet Corporation Limited (PSX: TREET), a leading Pakistani consumer goods company, have resolved to increase its authorized share capital from Rs4 billion to Rs9bn, the company's filing on PSX said today. 

The increase will be made by creating 500 million ordinary shares of Rs10 each.

This change will also require amendments to Clause 5 of the Memorandum of Association and Article 4 of the Articles of Association of the Company.

This move is expected to provide the company with greater flexibility in its capital structure, enabling it to raise funds more easily for expansion and other corporate purposes.

The resolution was passed without modification and is subject to requisite approval if any.

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Posted on: 2023-03-20T10:04:27+05:00