July 7, 2021 (MLN): The shareholders of Image Pakistan Limited in its Extra Ordinary General Meeting which was held on July 2, 2021, have resolved that members of the company may invest up to Rs200million in Image Tech Limited.
The notice issued to PSX noted, “the approval of the members of Image Pakistan Limited be and is hereby accorded in terms of Section 199 of the Companies Act, 2017 to make an investment of up to Rs. 200,000,000/- (Rupees two hundred million only) from time to time in Image Tech Limited a wholly owned subsidiary of the Company. The Company will hold 100% shareholding of IMAGE TECH LIMITED thus, making it a wholly owned subsidiary company of Image Pakistan Limited as per terms and conditions as disclosed to the members”.
The Company will hold 100% shareholding of IMAGE TECH LIMITED thus, making it a wholly owned subsidiary company of Image Pakistan Limited as per terms and conditions as disclosed to the members.
The above stated resolution shall be valid for 3 (three) years.
The meeting also resolved that the Chief Executive and Company Secretary of the Company be and are hereby singly empowered and authorized to undertake the decision of said investment as and when deemed appropriate and necessary in the best interest of the Company and its shareholders and to take all steps and actions necessary, incidental and ancillary including execution of any and all documents and agreements as may be required in this regard and to do all acts, matters, deeds and things as may be necessary or expedient for the purpose of giving effect to the spirit and intent of the special resolution for making investment from time to time”, as per notification said.
