Lucky Core Industries Plans to Sub-Divide Shares

Lucky Core Industries Limited (PSX: LCI) has announced plans to sub-divide the face value of its ordinary shares in a move aimed at improving investor accessibility and participation. The proposal was disclosed in a filing to the Pakistan Stock Exchange (PSX) today. The company’s Board of Directors has approved a reduction in the face value of each ordinary share from Rs. 10 to Rs. 2, subject to shareholder approval. As a result of this sub-division, the company’s subscribed and paid-up capital—currently comprising 92,359,050 ordinary shares of Rs. 10 each—will be restructured into 461,795,250 ordinary shares of Rs. 2 each. Under this arrangement, shareholders will receive five ordinary shares of Rs. 2 each for every one share of Rs. 10 they currently hold. The effective date of the share split will be announced at a later stage, contingent on receiving the required regulatory approvals in accordance with Section 85(1)(c) of the Companies Act, 2017. An Extraordinary General Meeting will be convened in due course to obtain the necessary approvals from shareholders for the proposed changes.