Pak Elektron to conduct potential corporate restructuring

MG News | May 06, 2022 at 10:13 AM GMT+05:00

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May 06, 2022 (MLN): To promote independent strategic alliance/collaboration with a global player and to attract foreign investment, the Board of Directors (BoD) of Pak Elektron Limited (PSX: PAEL) has authorized the management to conduct the necessary analysis/evaluation of the potential corporate restructuring of the company's business(s) and make recommendations to the board.

The board discussed the matter at length wherein it was proposed that both these businesses should be operated independently in separate companies which would result in operational focus, better management, growth opportunities, accountability, increased capitalization and overcome any short-term constraints.

The board also authorized the Chief Executive for the appointment of consultants and advisers for the purpose of evaluating proposed corporate restructuring propositions.

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