Maple leaf cement: Company converts preferred stock into common

Converts Rs7.3 million worth of preference shares into Rs9.3 million worth of ordinary shares

KARACHI:

Maple Leaf Cement Factory has converted Rs7.3 million worth of preference shares into Rs9.3 million worth of ordinary shares, according to a statement issued by the company to Karachi Stock Exchange on Tuesday.

The conversion was requested by the preference shareholders of the company at a determined ratio of 1.27 shares per preference share. 933,333 ordinary shares carrying a nominal value of Rs10 were issued against 734,732 preference stocks carrying a par value of Rs10 each.

Published in The Express Tribune, June 6^th, 2012.