Johnson & Phillips (Pakistan) adds textile manufacturing as principal line of the business

MG News | July 07, 2021 at 10:34 AM GMT+05:00

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July 7, 2021 (MLN): Johnson & Phillips (Pakistan) Limited (J&P) has passed a special resolution related to amendment in Memorandum of Association of the Company in its Extra Ordinary General Meeting of the Company held on July 5, 2021.

According to the notice issued to PSX, the Memorandum of Association of the Company be and is hereby amended by adding the following object clause as principal line of business, before existing Clause 3(a), which shall be re-numbered.

“To engage in the business of textile manufacturing / Weaving/Knitting/ Spinning/stitching garments/made-ups/clothing/knit-wears / bleaching / printing / dyeing / finishing calendaring / processing / weaving of apparels / hosieries silk / artificial / polyester yarn silk / synthetic fiber / Chemicals related textile and other allied commodities of all kinds and buying, selling, importing, exporting and dealing in the textile products and / or machinery in or outside Pakistan and to do other business connected, linked or associated therewith, and to carry on the business of manufacturing and stitching of garments & made ups on job order or contract basis and to purchase and import raw material and allied items required for manufacturing & stitching of garments, made ups in any manner which the company may think fit; and to sell or dispose of leftover garments, made ups, garment waste accessories and other surplus commodities that can be produced, compounded or made available by the company in any form as a result of any of its processes."

Moving on shareholders further resolved that the Chief Executive Officer and / or Company Secretary be and hereby authorized to do all acts, deeds and thing, take any or all necessary actions to complete all legal formalities, make amendments, modification, addition or deletion, and file all requisite documents with the competent authorities to give effect to and implement the aforesaid, notification added.

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