Karachi May 27 2025: Dost Steel Board of Directors has decided to increase the paid-up share capital of the Company by issue of a further 860,695,577 ordinary shares, having face value of PKR 10/- (Pak Rupees Ten) each by way of Right (Right Issue) and Otherwise than Right (Shares Otherwise than Right), according to company filing to the Pakistan Stock Exchange.
The Board of Directors of Dost Steels Limited, held its meeting on May 26, 2025 at Lahore, Pakistan.
Dost Steel to issue of a further 444,695,577 (Four Hundred Forty-Four million Six Hundred Ninety-Five thousand Five hundred Seventy-Seven) ordinary shares, having face value of PKR 10/- (Pak Rupees Ten) each, as Right Shares, to be offered to the members of the Company in proportion of approximately 100 Right Shares for every 100 ordinary shares held i.e. approximately 100%, at discount of PKR 1/- (Pak Rupees One) to par that is at a price of PKR 9/- (Pak Rupees Nine) per Right Share.
Board of Directors decided to issue 416,000,000 (Four hundred Sixteen million) shares Otherwise than Right, having face value of PKR 10/- (Pak Rupees Ten) to Mr. Muhabbat Khan and Mr. Zahir Khan and their nominees who have agreed to make an investment of PKR 2.08 billion in the Company and who have given personal guarantees to banks for repayment of bank loans, on which basis the Company has signed a restructuring agreement with Banks whereby PKR 2.08 billion will be paid by the Company in sixteen quarterly instalments to consortium Banks.
The Company will issue ordinary shares Otherwise than Right, having face value of PKR 10/- (Pak Rupees Ten) to Mr. Muhabat Khan, Mr. Zahir Khan and nominees (Investors) at discount of PKR 5/- (Pak Rupees Five) to par that is at a price of PKR 5/- (Pak Rupees Five) per Share.
The issue of shares Otherwise than Right is subject to approval of the shareholders of the Company and the Securities & Exchange Commission of Pakistan.
