Fazal Cloth changes TOCs of long-term investments worth Rs550mn

MG News | June 24, 2022 at 05:01 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

June 24, 2022 (MLN): The shareholders of Fazal Cloth Mills Limited (FZCM) have resolved to change the terms and conditions (TOCs) of the long-term investments of Rs550 million in Fatima Transmission Company Limited (FTCL).

This long-term investment includes a conversion feature whereby the loans/advances provided / to be provided to the FTCL may be convertible into non-cumulative, redeemable, non-voting, participatory preference shares of the FTCL.

It was further resolved that the above investment in preference shares of FTCL categorized as equity investment up to the extent of Rs550 million in the conversion of loan/advances already provided/to be provided to FTCL.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,374.88 110.96M	-0.95% -1549.44
ALLSHR	98,620.11 386.58M	-0.91% -906.77
KSE30	47,823.16 51.47M	-1.02% -490.65
KMI30	232,733.99 57.93M	-1.23% -2903.19
KMIALLSHR	63,955.68 197.75M	-1.12% -727.41
BKTi	44,724.17 14.61M	-1.01% -457.04
OGTi	33,033.72 5.00M	-1.08% -361.88

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,555.00	81,450.00 80,040.00	-650.00 -0.80%
BRENT CRUDE	117.38	117.45 112.74	4.21 3.72%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	-1.10 -0.85%
ROTTERDAM COAL MONTHLY	147.10	0.00 0.00	1.10 0.75%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	103.44	0.00 0.00	0.17 0.16%
SUGAR #11 WORLD	20.26	20.51 20.02	0.13 0.65%