Dewan Farooque Motors set to convert sponsor's loans into equity

MG News | August 07, 2024 at 11:53 AM GMT+05:00

0:00

August 07, 2024 (MLN): The shareholders of Dewan Farooque Motors Limited (PSX: DFML) are expected to approve the conversion of outstanding loans from the Sponsor and Associated Company, Dewan Motors (Private) Limited, into equity.

According to a notice issued by the company to PSX today, the Extraordinary general meeting of the shareholders is scheduled for August 27 to consider this special resolution.

The loans would be converted to equity by further issuance of shares to the Sponsor and Associated Company, Dewan Motors (Private) Limited, without offering rights to other shareholders.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,283.55 167.56M	0.08% 138.20
ALLSHR	100,743.06 606.86M	0.18% 177.75
KSE30	50,481.85 68.41M	-0.03% -14.33
KMI30	238,092.04 74.86M	0.08% 183.16
KMIALLSHR	65,617.46 221.67M	0.08% 53.04
BKTi	45,081.48 14.67M	-0.08% -34.71
OGTi	33,080.66 7.44M	0.16% 54.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	92,425.00	94,440.00 91,165.00	-840.00 -0.90%
BRENT CRUDE	63.34	63.62 62.53	0.67 1.07%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	-0.45 -0.49%
ROTTERDAM COAL MONTHLY	97.00	97.90 97.00	-1.50 -1.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	59.70	60.02 58.81	0.75 1.27%
SUGAR #11 WORLD	14.91	15.00 14.78	-0.02 -0.13%