December 10, 2019 (MLN): At a meeting today, the Board of Directors of Din Textile Mills have resolved that the Company should commence necessary formalities for raising capital of up to Rs 1 billion through rights issue of ordinary shares at par value or with premium as per decision of the Board, in compliance with applicable laws, including
(a) finalizing the quantum and number of shares to be offered under the rights offering in consultation with the sponsors and directors.
(b) finalize the financial projections for approval of the Directors under companies regulations 2018.
According to the notification sent by the company to PSX, the board further resolved that it shall announce the actual rights issue at a future date in a duly convened meeting of the board in accordance with the applicable laws after completion of all requisite formalities.
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