Oct 13, 2026, 10:18 AM
SECP approves Dandot Cement’s issuance of 42.396 million shares to associated companies against outstanding interest-free loans
Rights / BonusThe SECP approved Dandot Cement Company Limited’s issuance of 42,396,300 ordinary shares to two associated companies by way of other than right, in consideration for conversion of outstanding interest-free loans totaling Rs. 945 million. The approval is subject to regulatory conditions, including issuance in book-entry form within 50 days. This is a non-rights issuance and may dilute existing shareholders.
Key Findings
- SECP approval dated October 7, 2026, followed a special resolution passed at the company’s June 24, 2026 Extra Ordinary General Meeting.
- Digital World Pakistan (Private) Limited will receive 33,996,300 shares at Rs. 21.62 per share against conversion of a Rs. 735 million loan.
- Tetra Engineering (Private) Limited will receive 8,400,000 shares at Rs. 25.00 per share against conversion of a Rs. 210 million loan.
- The shares must be issued in book-entry form within 50 days of approval, and the company must notify the Commission and the exchange within seven days of issuance.
- Associated companies must retain the resulting shareholding for the period specified in the regulations.
Corporate Action Details
Action
Issue of shares other than by right against conversion of associated-company loans
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.