Chakwal Spinning to pivot to IT, cloud services, proposes name change

October 29, 2025 (MLN): The Board of Directors of Chakwal Spinning Mills Limited (CSML) has approved a plan to change the company's principal line of business from its existing textile activity to Information Technology (IT) and Cloud Services. 

The decision was made at a board meeting held on October 29, 2025.

The Board approved a new business plan focusing on the proposed IT and cloud venture.

 In a move that reflects the proposed change in focus, the company also approved a plan to change its name from Chakwal Spinning Mills Limited to QUANTUM DATA TECHNOLOGIES LIMITED".

These significant changes, including the change in principal line of business and the new name, are subject to approval by the shareholders at an Extraordinary General Meeting (EOGM) and any requisite regulatory approvals, including from the Securities & Exchange Commission of Pakistan (SECP).

The Board has scheduled the Extraordinary General Meeting (EOGM) to be held on Friday, November 21, 2025, at 10:00 am. 

The meeting will take place at the registered office of the company to consider and seek members' approval for the matters.

 The agenda includes approving the changes and any related amendments to the Memorandum & Articles of Association.

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