Zahur Cotton approves assets’ disposal to payoff outstanding dues

MG News | March 03, 2022 at 12:56 PM GMT+05:00

0:00

March 03, 2022 (MLN): Zahur Cotton Mills Limited (ZHCM), in an extra general meeting held today, has approved the disposal of the company's assets which will be used to redeem/ settle/ payoff/ adjust the company’s long outstanding liabilities, including the sponsor loan, the company’s filing on bourse showed today.

Resultantly, it will clean up un-used/unnecessary/long outstanding dues and make the company's financials more promising and lucrative for any potential investor(s), it added.

The assets comprise freehold land, building on freehold land and plant & machinery located at 94-KM Multan Road, Pul Jaurian, Akhtarabad, District Okara.

To note, on January 17, 2022, the company had informed that the management of ZHCM had received an in-principle inquiry from a multinational Information Technology (IT) company, through their financial advisor's Frontline Advisory Private Limited for the proposed merger with the company.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	154,292.26 213.82M	2.85% 4276.09
ALLSHR	92,658.58 393.53M	2.77% 2494.23
KSE30	46,904.87 134.91M	3.12% 1418.41
KMI30	221,684.42 82.94M	3.18% 6829.77
KMIALLSHR	60,187.46 166.61M	3.32% 1934.26
BKTi	42,971.02 70.64M	2.76% 1155.99
OGTi	32,492.05 13.03M	5.29% 1631.20

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	74,300.00	74,895.00 73,630.00	-385.00 -0.52%
BRENT CRUDE	103.43	103.67 100.34	0.01 0.01%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-11.95 -10.73%
ROTTERDAM COAL MONTHLY	121.85	0.00 0.00	0.20 0.16%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	94.31	95.65 91.45	-1.22 -1.28%
SUGAR #11 WORLD	14.44	14.47 14.35	-0.01 -0.07%