DG Khan Cement to mull over investment in Nishat Hotels and Properties

MG News | March 15, 2019 at 04:04 PM GMT+05:00

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March 15, 2019 (MLN): DG Khan Cement Company Limited (DGKC) has announced to conduct an Extra Ordinary General Meeting on Wednesday April 17, 2019, in which the members will discuss further investments in an associated company, Nishat Hotels and Properties Limited (NHPL).

According to a notice issued to the Pakistan Stock Exchange (PSX), the meeting will consider and if deemed fit, approve further investment of up to Rs.200 million from time to time in NHPL, for subscribing at par, fully paid up 20 million ordinary shares of Rs.10 each of NHPL as may be offered to DGKC by NHPL pursuant to further issue of capital.

This resolution shall be valid for a period of 3 years starting from the date of approval by member and CEO and/or CFO, and/or Company Secretary of DGKC.

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