Karachi: Reference to our today’s board of directors meeting held at 49-A, Baber Block, New Garden Town, Lahore, the board has recommended the followings:
1. Due to adverse market conditions, pressure of banks/financial institutions to made settlement for their financial liabilities outstanding against the company. Since the company has no resources of its own to settle liabilities of the bank and to restart its operation which is closed since 2006. It is decided to sale all fixed assets including plant and machinery, building and land of the company after the approval of the shareholders.
2. It is also decided to elect seven directors as fixed by the Board of Directors U/S 178 of the Companies Ordinance 1984.
For the approval of above recommendations the Extra Ordinary General Meeting of the Shareholders of the Company will be held on Monday 11th July, 2011 at Registered Office of the Company at 9:00 a.m. and the share transfer books of the company will remain closed from July 5, 2011 to July 11, 2011 (both days inclusive).
Further, the transfers received by the company at 49-A, Baber Block, New Garden Town, Lahore, the close of business on July 4, 2011 will be considered in time.
For more information, contact:
Zahur Textile Mills Limited
49-A, Baber Block,
New Garden Town,
Tel: +9242 5833881