iTANZ Technologies Limited approved a 10-for-1 stock split during its annual general meeting on 24 October. The face value of the company's ordinary shares will decrease from Rs. 10 to Re. 1 each.
Total authorized or paid-up capital will remain unchanged following the special resolution. The firm will now complete necessary regulatory formalities with the Securities and Exchange Commission of Pakistan, the Pakistan Stock Exchange, and the Central Depository Company.
A specific implementation date for the split will be announced once the board of directors approves a schedule after meeting regulatory requirements. Shareholders are set to receive an interim cash dividend of Rs. 1 per share for the financial year ending 30 June 2026.
This cash payment is equivalent to 10% of the share value. Additionally, the company will issue bonus shares of 10% for the same financial year.
These combined payouts represent a total distribution of 20% for the year. The annual general meeting also sanctioned amendments to the company’s articles of association.
Changes include revisions to fees payable to directors for attending committee and board meetings. These revisions are intended to align the company's constitutional documents with the Companies Act, 2017.
