INIL gets shareholder nod for Rs500m investment in CFS Minerals
MG News | June 19, 2026 at 09:33 AM GMT+05:00
June 19, 2026 (MLN): International Industries Limited (PSX:INIL) has secured shareholder approval to invest up
to Rs500 million in CFS Minerals (Private) Limited.
The resolution was
passed at an Extraordinary General Meeting held on June 18, 2026, the
company’s filing on PSX revealed.
The investment,
sanctioned under Section 199 of the Companies Act, 2017, and the Companies
(Investment in Associated Companies or Associated Undertakings) Regulations,
2017, will be made in tranches and is subject to requisite regulatory
approvals.
The company's Chief
Executive Officer, Chief Financial Officer, and Company Secretary have been
jointly and severally authorised to execute all necessary documentation,
complete filings with the PSX and SECP, and take any other steps required to
fulfil the objectives of the resolution.
The shareholders
further approved that the resolutions may be amended, modified, or supplemented
as directed by the SECP or any other regulatory body, without the need to pass
fresh resolutions, provided the changes are not substantial in nature.
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