REG - Lucky Cement Ld - Material Information

Lucky CementAnnouncement

01/02/2021 09:45

RNS Number : 5254N
  
Lucky Cement Limited
  
01 February 2021
  
 

LCK/CS/2020-21/                                                                                            February 01, 2021
 



The General Manager
Pakistan Stock Exchange
Limited
Karachi


Director / HOD
Surveillance, Supervision and Enforcement Department
Securities & Exchange
Commission of Pakistan
Islamabad


The London Stock Exchange
10 Paternoster 
Square,
London



 
Dear Sir(s)
 
MATERIAL INFORMATION 
 
In accordance with Sections 96 and 131 of the Securities Act, 2015 clause 5.6.1 of the PSX Regulations, we hereby would like to convey the following information:
 
Subsequent to the financial results disclosure for the half year ended December 31, 2020 made by Lucky Cement Limited (the "Company") during the pendency of the meeting of its Board of Directors on January 29, 2021, the directors of the Company, during the said meeting (which continued till after 5:00 p.m.), decided as follows:
 
"Keeping pace with the increasing demand in the domestic Cement industry, on the back of revival of economic activity and uptick in construction projects including both retail level projects as well as mega infrastructure development projects, the Company has decided to enhance its cement production capacity at its Pezu Plant by 3.15 million tons per annum.
 
The total project cost for the above expansion shall be finalized after conclusion of negotiations with the suppliers / contractors. The construction work on the project is expected to commence within current financial year and is expected to have a construction period of 1.5 to 2 years."
You may please inform the TREC holders accordingly.
 
Yours truly,
For: LUCKY CEMENT LIMITED
 
 
 
ATIF KALUDI
Director Finance & CFO

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