Avanceon : Board Resolution for Issue of Bonus Shares
April 08, 2024 at 02:36 am EDT
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Regional Operations Centre
The Avanceon Building
19 km Main Multan Road Lahore 54660 Pakistan
08 April 2024
AVN/SECP/B/08042024
Securities and Exchange Commission of Pakistan.
NIC Building Jinnah Avenue,
7- Blue Area,
Islamabad.
Subject:Board Resolution for Issue of Bonus Shares.
Dear Sir,
In pursuance of Notification No. S.R.O. 231(I)/2020 dated March 16, 2020, please find attached a copy of the board resolution for issue of bonus shares in proportion of 10 shares for every 100 shares held i.e. 10% recommended by the board in their meeting held on Saturday, 06 April 2024 at 10:00 A.M. at Regional Operations Centre, The Avanceon Building, 19-Km, Main Multan Road, Lahore / online, subject to the approval by shareholders in the Annual General Meeting to be held on Monday, 29 April 2024 at Lahore.
Best Regards
Ahsan Khalil | Company Secretary
CC: Securities & Exchange Commission of Pakistan- CRO Office Lahore.
www.avanceon.ae| Enquiries: support@avanceon.ae
Regional Operations Centre
The Avanceon Building
19 km Main Multan Road Lahore 54660 Pakistan
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE BOARD OF DIRECTOR'S MEETING OF AVANCEON LIMITED, HELD ON SATURDAY, 06 APRIL 2024 AT 10:00 A.M. AT REGIONAL OPERATIONS CENTRE, THE AVANCEON BUILDING, 19-KM, MAIN MULTAN ROAD, LAHORE / ONLINE.
The following resolution was passed by the BOD:
RESOLVED that, Ordinary Shares of Rs. 10/- each to be issued as Bonus Shares and that the said shares be allotted as fully paid Ordinary Shares to the Members of the Company whose names appear on the Register of Members as at the close of the business on Friday, 19 April 2024 in the proportion of 10 Bonus Share for every 100 Shares held, that is at the rate of 10%.
These Bonus Shares shall rank pari pasuu as regards dividend and in all other respects with the existing Ordinary Shares of the Company.
CERTIFIED:
Ahsan Khalil | Company Secretary
06 April 2024 | Lahore
Avanceon Limited
www.avanceon.ae| Enquiries: support@avanceon.ae
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Avanceon Limited is a Pakistan-based provider of industrial automation, process control, and systems integration, as well as proprietary energy management solutions and support services. The Company's After Marketing Support (AMS) segment is engaged in the provision of services, such as technical support and service level agreements (SLAs) and related spares. Its Core Business segment includes Application Based Solutions (ABS), Systems, and Products. ABS sales include the supply of patented systems, power products, software, Variable Speed Drives (VSDs), and Variable Frequency Drives (VFDs). Systems sales are embedded solutions for multiple original equipment manufacturers (OEMs) equipment. Products include the sale of motors, analyzers, and other specialized products of OEMs. Its Specialized Business segment includes Energy Management Systems (EMS) and High End Solutions (HES). Its other segments include Manufacturing and Assembling, Engineering services business and Middle East.
AVANCEON LIMITED 
