Cherat Cement shareholders approve Rs75m investment in Mirpurkhas Sugar Mills

MG News | March 21, 2024 at 01:56 PM GMT+05:00

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March 21, 2024 (MLN): The shareholders of Cherat Cement Company Limited (PSX: CHCC) have approved an investment of up to Rs75 million in Mirpurkhas Sugar Mills Limited (PSX: MIRKS), company's filing on PSX revealed today.

As per the resolution, the investment would be made by subscribing to the right shares of MIRKS at Rs25 per share.

This includes subscribing to the right shares offered to the company in proportion to CHCC's existing shares, as well as any remaining unsubscribed shares within the approved investment amount.

Moreover, the members of Cherat Cement have the Board of Directors of the Company and the Company Secretary to do all acts, deeds, and things that may be necessary or required to give effect to this resolution.

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