Kohinoor Spinning to increase share capital to Rs2.2bn

MG News | March 18, 2022 at 12:45 PM GMT+05:00

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March 18, 2022 (MLN): The board of directors of Kohinoor Spinning Mills Limited (PSX: KOSM) has decided to increase the authorized share capital of the company from Rs1.5 billion to Rs2.2bn by increasing 140 million new ordinary shares, the company filing on PSX showed on Friday.

In this connection, the board will call an extraordinary general meeting to make the necessary amendments to the memorandum and article of association of the company.

Meanwhile, the board has decided for the optimal utilization of owned land by way of commercial development, disposal or any other way as the company thinks expedient, in part or full, for the greater interest of the company.

The aforestated decision pertaining to the utilization of assets is subjected to the approval of members in an extraordinary general meeting.

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