Islamabad, 13 May, 2025: Lucky Core Industries (LCI) has informed the exchange that its Board of Directors (BoD) has proposed the sub-division of equity shares issue to shareholder approval.
“It is hereby informed that in order to improve investor accessibility and participation, the BoD of Lucky Core Industries Limited has approved a sub-division of the face value of the shares of the company, subject to the approval of the members,” read the notice on Tuesday.
As per the proposal, the face value of each ordinary share be reduced from Rs10 to Rs2 per share.
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“As a result, the company’s subscribed and paid-up capital, currently comprising 92,359,050 ordinary shares of Rs10 each, will be restructured into 461,795,250 ordinary shares of Rs2 each.”
Under this planning, shareholders will receive five average shares of Rs. 2 each for every one share of Rs. 10 they currently hold.
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The current date of the share split will be announced at a later stage, contingent on receiving the required controlling approvals in accordance with Section 85(1)(c) of the Companies Act, 2017.
An Extraordinary General Meeting will be organized in due course to obtain the essential approvals from shareholders for the proposed changes.
Following the statement, LCI’s stock price surged by Rs69.98, or 4.79%, and at the time of filing was suspended at Rs1,530 per share.
LCI was united in Pakistan as a public limited company as Khewra Soda Ash Company in 1953.
In 1966, after a year of getting Fuller Paints Limited, the company changed its name to ICI Pakistan Manufacturers Limited.
Later, Imperial Chemicals (Private) Limited was also combined into the company.
In 2012, Lucky Holdings Limited acquired the majority shareholding of the company from AkzoNobel and became the holding company of LCI.
