Karachi, Sapphire Fibres Limited has announced an Extraordinary General Meeting of shareholders scheduled to take place on June 21, 2023, in Karachi. The meeting will primarily focus on discussing the following agenda:
Ordinary Business:
1. Confirmation of the minutes of the previous General Meeting.
Special Business:
2. Consideration and potential passing of special resolutions, with or without modifications, including:
(a) Resolution to increase the authorized share capital of the company from Rs. 350,000,000/- to Rs. 27,350,000,000/-.
(b) Amendment of the Memorandum of Association to substitute the existing figures and words with Rs. 27,350,000,000/- and 2,735,000,000, respectively.
(c) Amendment of the Articles of Association to substitute the existing figures and words with Rs. 27,350,000,000/- and 2,735,000,000, respectively.
(d) Authorization granted to the Chief Financial Officer and/or Company Secretary to undertake necessary actions and complete corporate and legal formalities in accordance with the above resolutions.
Other Business:
3. Transaction of any additional business with the Chair's permission.