Hascol Petroleum BOD approves authorized share capital increase to Rs50 billion

Hascol Petroleum BOD approves authorized share capital increase to Rs50 billion

KARACHI: The board of directors of Hascol Petroleum Limited has approved increase in authorized share capital of the company to Rs50 billion from Rs10 billion, according to a communication sent to Pakistan Stock Exchange (PSX) on Monday.

The communication said that at an emergent meeting of the board of director (BOD) of Hascol Petroleum Limited held on January 29, 2021, the board of directors approved the increase in the authorized share capital of the company from Rs10 billion to Rs50 billion, subject to obtaining the requisite approvals from the shareholders of the company, and in that respect to call and hold an extraordinary general meeting of the company on February 23, 2021 to obtain the approval of the shareholders/members of the company for the increase in the authorized share capital of the company and the corresponding amendments to the memorandum and articles of association of the company.