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Colony Textile approves Rs99mn equity investment in its subsidiary

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June 29, 2021 (MLN): The Board of Directors of Colony Textile Mills Limited, in its meeting held on June 29, 2021, has approved an equity investment of up to Rs99 million in its wholly-owned subsidiary “Stitchrite (Private) Limited” through subscribing the 9.9 million shares of Rs10 each against a right offer made by Stitchrite (Private) Limited in accordance with the provisions of the Companies Act, 2017,

As per the notice sent to Pakistan Stock Exchange, the aforementioned equity investment is subject to compliance with all statutory and legal requirements.

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Posted on: 2021-06-29T16:49:00+05:00

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