Interloop’s shareholders approve transaction of asset sale and liability settlement of \"IL Bangla Limited\"

December 10, 2020 (MLN): Interloop Limited (ILP), at Extraordinary General Meeting of the Company held today, has passed the resolution adopted by its shareholders that "IL Bangla Limited" a Bangladesh based Associated Undertaking, for the transaction of the asset sale and liability settlement of "IL Bangla Limited" be and is hereby approved.

According to the notification issued to PSX, this is subject to compliance with all statutory and legal requirements and/or other approvals as may be necessary.

Company’s shareholders further resolved that the Director, Chief Executive Officer and the Company Secretary of the Company be and are hereby singly authorized to complete all the related regulatory, legal and other formalities of this transaction and to further authorize person(s) to deal and negotiate, execute and implement the transaction with the party (ies) involved.

It has been further resolved that Director, Chief Executive Officer and the Company Secretary of the Company be and are hereby authorized singly to initiate and complete the process for the winding up of "IL Bangla Limited" a Bangladesh based Associated Undertaking, in coordination with other parties subsequent to the consummation of this transaction.

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