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PK-COMPANIES further issue of shares regulation 2019

PK-Companies (Further Issue of Shares) Regulation 2019

Companies (Further issue of shares) Regulations, 2020 [“Regulations”] provide procedures for issuance of further capital including preference shares. These are in addition to the requirements included in section 83 of the Companies Act, 2017 [“Act”]. Following is the synopsis of these Regulations.

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Amyn Malik

Partner, Audit

KPMG in Pakistan

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Companies further issue of shares regulation 2019

Right Issue

Regulation 3 and Section 83

Any company may issue right shares subject to the following:

• Right share to be offered to existing members of the company in proportion to the shares held by them. (S.83)

• Board of Directors [“BOD”] will approve decision for right issue. (S.83)

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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

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