FTMM files petition after shareholder consent

MG News | February 03, 2025 at 11:26 AM GMT+05:00

0:00

February 03, 2025 (MLN): First Treet Manufacturing Modaraba (PSX: FTMM) has taken a step based on a special resolution passed by its shareholders during the Annual General Meeting held on October 28, 2024.

Following the directions from the Modaraba Division of the Securities and Exchange Commission of Pakistan (SECP), the company has filed a petition with the Honorable Lahore High Court.

The petition is specifically requesting a reduction of its paid-up capital, the company's filing on PSX revealed today.

This action is part of FTMM's ongoing efforts to adjust its capital structure to better meet its operational and financial needs.

The company emphasizes that the reduction process is being carried out in full compliance with all applicable rules and regulations.

Further updates regarding the progress and outcome of the petition will be shared with shareholders and the market at an appropriate time.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	167,280.30 670.79M	0.62% 1037.40
ALLSHR	101,642.02 1,128.71M	0.50% 509.21
KSE30	51,178.95 166.03M	0.57% 292.35
KMI30	241,542.02 77.92M	0.18% 425.37
KMIALLSHR	66,738.76 648.99M	0.33% 219.32
BKTi	48,262.36 111.13M	1.16% 551.29
OGTi	32,604.00 11.51M	0.57% 185.39

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,005.00	111,160.00 107,705.00	-3070.00 -2.76%
BRENT CRUDE	60.71	61.20 60.58	-0.30 -0.49%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.10 -1.35%
ROTTERDAM COAL MONTHLY	92.75	92.75 92.75	-0.25 -0.27%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	56.73	57.20 56.60	-0.29 -0.51%
SUGAR #11 WORLD	15.77	15.78 15.51	0.27 1.74%