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 6th, 2012.
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 6th, 2012.