Dandot Cement to accept Rs500m investment from Tetra Engineering
MG News | October 31, 2023 at 03:33 PM GMT+05:00
October 31, 2023 (MLN): The Board of Directors (BoD) of Dandot Cement Company Limited (PSX: DNCC) has decided to accept the investment offer from Tetra Engineering (Private) Limited for a convertible interest fee loan of Rs500 million, the company’s filing on the local bourse revealed today.
As per the said offer, the interest-free loan of Rs500m will be injected in installments, from time to time, to complete the BMR and support the working capital requirements of the DNCC.
The loan will be convertible into shares of DNCC at the rate of Rs25 per share, which includes a Par value of Rs10 and a premium of Rs15 per share.
The company is a subsidiary of Calicom Industries (Pvt.) Limited and is engaged in the production and marketing of cement.
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