Exide Pakistan Limited Board Recommends Increase in Authorized Share Capital and Capitalization of Resources.

Karachi -- In a recent meeting held in Karachi, the Board of Directors of Exide Pakistan Limited made significant recommendations for the future of the company. The board suggested increasing the authorized share capital from Rs. 180,000,000 to a staggering Rs. 5,000,000,000, resulting in a division of 500,000,000 ordinary shares of Rs. 10 each. This proposal, if approved, would lead to a substantial expansion of the company's capital base.

Additionally, the board recommended alterations in the Memorandum and Articles of Association of the company, in line with the proposed increase in authorized share capital. These changes are crucial to accommodate the company's growth plans and align with the evolving market dynamics.

Furthermore, the board put forth a recommendation for the alteration of the Articles of Association regarding the capitalization of resources. This move...