ISLAMABAD: Gujranwala Electric Power Company Limited (GEPCO) has proposed a 50 percent increase in its authorised share capital, ie, from Rs50 billion to Rs75 billion, following directions conveyed by the Cabinet Committee on Privatisation through the Privatisation Commission, according to an official notice issued by the company, sources close to CEO GEPCO told Business Recorder.
The proposal will be placed before the company’s 34th Extraordinary General Meeting (EOGM), scheduled to be held on October 22, 2026.
The proposed increase in authorised share capital will require an amendment to the relevant capital clause of the company’s Memorandum of Association.
The company has proposed to increase its authorised share capital from Rs50,000,000,000, divided into five billion ordinary shares of Rs10 each, to Rs75,000,000,000, divided into 7.5 billion ordinary shares of Rs10 each, subject to applicable laws, rules and regulations.
requirement.
The notice has also been circulated to relevant officials and directors, including the Deputy Secretary (Corporate Affairs) and a Section Officer of the Power Division, the Registrar of the SECP, and members of GEPCO’s Board of Directors. The company’s Chief Executive Officer has also been requested to convey consent to the waiver of the notice period.
The proposed increase concerns the company’s authorised share capital, which represents the maximum share capital it is permitted to issue under its constitutional documents. The notice does not specify whether the additional authorised capital will be issued immediately, nor does it provide details of any proposed share issuance, the amount of fresh equity to be raised or the intended utilisation of any proceeds.
The proposal will therefore require consideration and approval at the scheduled EOGM before the relevant amendment can be implemented, alongside completion of the applicable corporate and regulatory formalities.
Story by Mushtaq Ghumman
