Pak Leather Crafts to downsize operations, diversify

MG News | October 04, 2024 at 04:22 PM GMT+05:00

0:00

October 04, 2024 (MLN): The board of directors of Pak Leather Crafts Limited (PSX: PAKL) met today and decided to downsize current operations and diversify into other lines of manufacturing, warehousing, or supply chain management.

According to a notice issued by the company to the PSX today, the board has decided to consider an alternative option to dispose of the company’s assets located at Plot 18, Sector 7-A, Korangi Industrial Area, Karachi.

These assets include leasehold land, a building on leasehold land, and plant and machinery.

Additionally, a portion of these assets will be acquired from the prospective purchaser to ensure the continuation of uninterrupted business and manufacturing activities.

This decision is subject to the necessary approval from shareholders and compliance with other corporate formalities, including regulatory approvals.

"We shall furnish more detailed information to shareholders etc. through notice of annual general to be held on October 07, 2024," the notice concludes.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	150,398.71 270.15M	-1.06% -1612.55
ALLSHR	90,084.08 469.39M	-0.93% -849.88
KSE30	45,453.36 99.47M	-1.14% -522.50
KMI30	218,271.12 195.05M	-0.92% -2019.44
KMIALLSHR	58,965.48 294.49M	-0.81% -483.69
BKTi	41,775.34 33.94M	-0.76% -317.96
OGTi	31,328.42 11.96M	-0.61% -192.61

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,165.00	67,625.00 66,480.00	-15.00 -0.02%
BRENT CRUDE	109.24	109.74 99.08	8.08 7.99%
RICHARDS BAY COAL MONTHLY	112.50	0.00 0.00	6.40 6.03%
ROTTERDAM COAL MONTHLY	113.00	114.50 113.00	-0.40 -0.35%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	112.06	113.97 97.50	11.94 11.93%
SUGAR #11 WORLD	14.96	15.50 14.91	-0.33 -2.16%