Dewan Mushtaq Textile Mills' paid-up capital increases by Rs50 mln

MG News | December 27, 2018 at 04:45 PM GMT+05:00

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December 27, 2018 (MLN): The Issued, Subscribed and Paid-up capital of Dewan Mushtaq Textile Mills Limited has been increased by Rs. 50,000,000 (5,000,000 ordinary shares of Rs. 10 each), against issue of shares to Dewan Muhammad Yousuf Farooqui by conversion of his outstanding loan.

“The outstanding loan was converted into equity on the basis of special resolution passed by members in Extra Ordinary General Meeting, whereas approval was granted by the Securities and Exchange Commission of Pakistan (SECP)” the auditors of the company informed on Thursday.

According to a notification issued to PSX by the company, the total paid-up capital has been increased from Rs. 65,610,280 to Rs. 115,610,280.

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