Maqbool Textile withdraws proposal for reconstruction/demerger

MG News | February 27, 2023 at 02:45 PM GMT+05:00

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February 27, 2023 (MLN): The Board of Directors of Maqbool Textile Mills Limited (PSX: MQTM) has formally withdrawn the proposal for reconstruction/demerger of the company, the company filing on PSX showed today.

The decision was taken at a meeting held earlier today, where the board members discussed the pros and cons of the proposed plan and evaluated its feasibility.

The proposal for reconstruction/demerger was initially put forward by the management to streamline the operations of the company and make it more efficient.

However, after careful consideration, the board members have decided to withdraw the proposal due to various reasons, including the current economic climate and market conditions.

Maqbool Textile Mills is a well-established textile manufacturing company that has been in operation for several years. The company is known for its high-quality products and has a strong customer base.

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