Mian Textile Industries changes its principal line of business from Textile to Logistics

MG News | June 04, 2021 at 05:33 PM GMT+05:00

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June 4, 2021 (MLN): The Board of Directors of Mian Textile Industries Limited, in its meeting held today, have resolved to change the name of the company to “Cordoba Ventures Limited” subject to passing of special resolution in the general meeting and approval of SECP.

The board also resolved to alter the Memorandum of Association of the company by altering the principal line of business from textile to logistics and investment business, subject to approval of shareholders and requisite permission(s).

In addition, the board has resolved to accept subordinate loans from the new sponsors of the company up to the extent of Rs200million on such terms and conditions that are acceptable to the management of the company.

The above information was shared via notification to exchange.

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