Systems Limited Hit Lower Circuit As It Calls Extraordinary Meeting To Double Its Authorized Capital: PSX

Karachi December 3 2021: System Limited hit lower circuit or drop 7.5 percent to close the day at PKR 735.85 per share after the company called Extraordinary General Meeting to double its authorized capital.

Decline in share price of Systems limited in today’s market has wipe out more than PKR 8 billion of common investors.

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KSE 100 Heading Towards Halt On More Than 200 Basis Points Increase In T-Bill Cut-off Yields And Historic High Trade Deficit: PSX

Extraordinary General Meeting will be held on 23th December 2021 to consider and, if thought fit, approve an increase in the authorized share capital of the Company.

As per the resolution, the authorized share capital of the company be and is hereby increased from PKR 2,000,000,000 divided into 200,000,000 shares Rs.10 each to PKR 4,000,000,000 divided into 400,000,000 shares of Rs.10 each ranking pari passu in every respect with the existing ordinary shares of the Company.