The Board of Directors of Clover Pakistan Limited has recommended a sub-division of shares, proposing to reduce the face value of each share from Rs10 to Rs1 in a 10-for-1 ratio, subject to shareholder approval.
The company announced through a notice sent to the PSX that the decision was taken at a board meeting held on February 13, 2026, and will be placed before shareholders at an Extraordinary General Meeting (EOGM) to be convened at a later date.
Under the proposal, each existing share of Rs10 will be split into 10 shares of Rs1 each, in accordance with Section 85(1)(c) of the Companies Act, 2017. The board has also recommended an amendment to Clause V of the Memorandum of Association to reflect the proposed sub-division.
If approved at the EOGM, the company’s existing subscribed and paid-up capital, currently comprising 38,928,824 ordinary shares of Rs10 each, will be sub-divided into 389,288,240 ordinary shares of Rs1 each, without any change in the total paid-up share capital.
Eligible shareholders will receive 10 shares in place of every one share held as of a date of determination to be announced after the conclusion of the EOGM.
The company stated that the initiative is aimed at making its shares more accessible to a wider spectrum of investors while ensuring that growth benefits are shared among shareholders.
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