Yousaf Textiles increases authorized shares capital to 2bn shares

MG News | March 07, 2022 at 02:26 PM GMT+05:00

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March 7, 2022 (MLN): The shareholders of Yousaf Weaving Mills Limited (YOUW), in the extraordinary general meeting held on March 4, 2022, resolved to increase the authorized share capital from 900 million shares to two billion shares at the rate of Rs10 per share, the company filing on PSX showed today.

The shareholders further resolved that the approval be and is hereby given that if the shares are to be issued at discount the amount of discount shall not exceed Rs300 per share for the additional number of shares by way of right issue or otherwise that should not exceed 110 million ordinary shares of the company.

This is subject to the approval of the Securities and Exchange Commission of Pakistan (SECP).

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