Karachi May 2 2023: Lucky Cement Limited informed that the Board of Directors of the Company in its meeting held on April 28, 2023, has approved, and decided to recommend to the members of the Company for their approval by passing of special resolutions, the purchase / buy-back of up to 23,800,000 (Twenty Three Million Eight Hundred Thousand) issued ordinary shares of the Company.
This buyback constituting approximately 7.59 percent of the current issued and paid up share capital of the Company), of the face value of PKR 10/- (Pak Rupees Ten) each, by the Company in accordance with Section 88 of the Act read with the Regulations, subject to, inter alia, obtaining the requisite approval from the members of the Company.
The shares will be purchased from time to time at spot/market price acceptable to the company between June 2 2023 to November 20 2023 or till such date that the purchase is complete. The purpose of the purchase is to cancelled shares.
The Board of Directors has decided to convene an Extraordinary General Meeting (EOGM) of the Company on Wednesday, May 24, 2023 at 12:00 noon at the registered office of the Company situated at factory premises in Pezu, District Lakki Marwat, Khyber Pakhtunkhwa to, inter alia, seek members' approval (pursuant to the passing of special resolutions) for the proposed purchase I BuyBackof shares.
The Share Transfer Books of the Company will remain closed from Wednesday, May 17, 2023 to Wednesday, May 24, 2023 (both days inclusive). Transfers received at our Share Registrar CDC Share Registrar Services Limited, CDC House, 99-B, Block 'B', S.M.C.H.S. Main Shahrah-e-Faisal, Karachi-74400 before the close of business on Tuesday, May 16, 2023 will be considered in time to determine voting rights of the members for attending the meeting.
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