Suraj Cotton Mills authorized to make long term equity investment

MG News | June 28, 2021 at 02:11 PM GMT+05:00

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June 28, 2021 (MLN): The members of Suraj Cotton Mills Limited (SURC), at the Extra-ordinary general meeting held today, have authorized the company to make further long term equity investment up to Rs8,242,500 by way of subscription of 412,125 Right Shares at a price of Rs20 each including a premium of Rs10 each of The Crescent Textile Mills Limited, an associated Company.

It has further resolved that Mr. Ahsan Bashir, Director, Mr. Adil Bashir, Director and Mr. Muhammad Naeem Sheikh, Chief Financial Officer of the Company be and are hereby Jointly (any two) empowered and authorized to do all acts, matters, deeds and things, take any or all necessary actions to complete all legal formalities as may be necessary or incidental for the purpose of implementing the aforesaid resolution.

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