Regulatory Alerts2025-12-22
Added · Updated
Amendments to the Companies (Further Issue of Shares) Regulations, 2020
The Securities and Exchange Commission of Pakistan amends the Companies (Further Issue of Shares) Regulations, 2020, by redefining 'defaulter counter' as 'non-compliant segment or winding-up segment' in Regulation 3. Regulation 5 is updated to include share issuances enabling acquirers to exceed voting limits under section 111 of the Securities Act, 2015. Regulation 6 introduces new provisions requiring that share issuances do not adversely affect existing shareholders, mandating equal dividend ratios for ordinary shares, and stipulating that shares with 'one share one vote' must comprise at least 75% of total voting power. Additionally, the amendments cap varied voting rights at five per share and require such shares to be listed securities.