iTANZ Technologies Limited has approved a 10-for-1 stock split, reducing the face value of its ordinary shares from Rs. 10 to Re. 1 each, following a special resolution that was passed at its annual general meeting on October 24, 2026. Under the approved plan, each existing share with a face value of Rs. 10 will be divided into 10 shares of Re. 1 each, and the total authorized and paid up capital of the company will not change. The decision follows the approval in principle that the board of the company gave to the proposal in August, when it was made subject to the approval of shareholders and the completion of regulatory requirements.
The company will complete the required regulatory formalities with Securities and Exchange Commission of Pakistan (SECP), Pakistan Stock Exchange (PSX) and Central Depository Company (CDC) before it announces the effective date and the book closure dates. It said that the implementation date of the split will be announced after these requirements are fulfilled and after the board of directors approves the schedule. Shareholders therefore do not yet have a date on which the new shares will appear, and the timing depends on the completion of the formalities with the three institutions.
In a briefing note that was issued earlier, the company explained that a stock split does not by itself change its paid up capital, net assets, earnings or the proportionate shareholding of any member, and that it involves no cash outlay and no dilution for existing shareholders. The number of issued shares would rise from about 118.60 million to about 1,186.04 million, and the company has said that the main aim is to improve trading liquidity and to make its shares more affordable for retail and first time investors. The shares closed at Rs. 45.41 on August 21, which would imply an illustrative price of about Rs. 4.54 after the split.
Separately, shareholders noted the distribution for the financial year that ended on June 30, 2026, which comprised an interim cash dividend of Rs. 1 per share, equal to 10 percent, and bonus shares of 10 percent. Together, the distribution represented 20 percent for the year. The annual general meeting also approved amendments to the articles of association of the company, including changes to the fees that are payable to directors for attending board and committee meetings, and revisions to align its constitutional documents with the Companies Act, 2017. The company was formerly known as Zahur Cotton Mills Limited, and it now provides software development and information technology services.
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