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	178,853.10 424.99M	3.29% 5702.68
ALLSHR	107,335.86 693.28M	2.85% 2972.30
KSE30	54,676.69 210.97M	3.52% 1860.41
KMI30	250,620.93 139.36M	2.14% 5257.28
KMIALLSHR	68,647.30 398.45M	1.89% 1273.91
BKTi	52,773.10 107.33M	7.09% 3494.44
OGTi	35,032.42 34.95M	0.79% 274.54

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,570.00	68,570.00 66,910.00	-295.00 -0.43%
BRENT CRUDE	68.74	68.81 67.36	1.32 1.96%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-3.00 -3.03%
ROTTERDAM COAL MONTHLY	105.50	0.00 0.00	-0.10 -0.09%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	63.45	63.52 62.04	1.19 1.91%
SUGAR #11 WORLD	13.61	13.69 13.47	0.13 0.96%