Acquisition of shares of Gadoon Textile Mills Limited

Karachi: Gadoon Textile Mills Limited informed Karachi Stock Exchange that on December 3, 2015, the YB Holdings (Private) Limited has acquired 4,780,500 (17.06%) shares of the company.

After purchase of shares, the YB Holdings (Private) Limited owns 19,499,740 (69.57%) shares in Gadoon Textile Mills Limited.

Gadoon Textile Mill Limited was incorporated in Pakistan on February 23, 1988. The commercial production of the business started in 1990. It is a public limited company under the Companies Ordinance, 1984. The company is engaged in the business of manufacturing and selling yarn. The registered office of the company is located in district Swabi. The manufacturing facilities of the company are located near Gadoon and Nooriabad near Karachi. The stocks of the company are quoted on the Karachi and Islamabad Stock Exchanges of Pakistan.

The products which are manufactured by the company include compact yarn, murata jet spinning yarn, core spun yarn, compact core spun yarn, grey cotton, ring spun yarn, synthetic yarn and poly cotton yarn.

The symbol “GADT” is being used by the stock exchange for the shares of Gadoon Textile Mill Limited.