Yousuf Weaving Mills to increase authorized capital to Rs2bn

MG News | January 24, 2022 at 02:56 PM GMT+05:00

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January 24, 2022 (MLN): The board of directors of Yousuf Weaving Mills Limited, have decided to increase the company’s authorized capital to Rs2 billion, the company’s filing on bourse showed today.

Additionally, the board also approved the revival business plan and considered all measures in respect of the spinning unit’s contribution to the revival business plan but not limited to disposal/transfer of the spinning unit’s assets.

The aforesaid resolution is subject to the approval of the shareholders of the company in their general meeting which is recommended to be held on March 4, 2022.

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