Bhanero Textile Mills to Hold Board Meeting to Discuss Scheme of Arrangement

Karachi, Bhanero Textile Mills Limited has announced an upcoming board meeting scheduled for June 10, 2023. The meeting, set to take place in Karachi, aims to discuss and adopt the Sindh High Court Order No. JCM 10 of 2022 regarding the sanction of a Scheme of Arrangement between Bhanero Textile Mills Ltd (Company) and Bhanero Energy Ltd Unit I (BEL-I) under sections 279 to 283 and 285 of the Companies Act, 2017.

In light of the board meeting, Bhanero Textile Mills Limited has declared a “Closed Period” from June 10 to June 12, 2023. This measure is in accordance with Clause 5.6.ld) of the PSX Regulations, prohibiting any dealing in the company’s shares by directors, CEOs, or executives, either directly or indirectly, during the Closed Period.