ZIL Limited acquired by New Future Consumer International

MG News | June 01, 2023 at 11:43 AM GMT+05:00

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June 01, 2023 (MLN): The acquisition of ZIL Limited (PSX: ZIKL) by New Future Consumer International General Trading LLC has been completed with effect from May 31, 2023, the company’s filing on PSX showed today.

As a result, 2 board members have stepped down effective May 31, 2023 and 2 new directors (who are nominees of New Future Consumer International General Trading LLC) have been appointed by the Board of Directors of the company.

This is in reference to the various earlier announcements in connection with the acquisition of 5,194,514 ordinary shares Rs10 each of the company, representing 84.84% of the total issued share capital of the company by New Future Consumer International General Trading LLC.

ZIL's principal activity is manufacture and sale of home and personal care products.

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