REWM to convert Fatima Transmission’s outstanding loans into preference shares

By MG News | June 01, 2022 at 01:23 PM GMT+05:00

0:00

June 01, 2022 (MLN): The Board of Directors of Reliance Weaving Mills Limited (PSX: REWM) has approved the conversion of outstanding loans and advances of Fatima Transmission Company Limited amounting to Rs73.39 million into unlisted, non-voting, non-cumulative, participatory, convertible and redeemable preference shares at par value of Rs10 each, the company's filing on PSX showed on Wednesday.

However, the aforesaid development is subject to the approval of the shareholders of the company.

Reliance Weaving Mills Limited comprises 336 latest technology Tsudakoma Air-Jet Looms with a monthly weaving capacity of about 6 million meters.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,200.00	110,525.00 107,865.00	-1215.00 -1.10%
BRENT CRUDE	67.55	67.96 67.22	-0.75 -1.10%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.76	67.18 65.40	-1.24 -1.85%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%