AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, May 15, 2013 (PPI-OT): The management of ICC Textile Limited (ICCT) is pleased to inform that they have made efforts to improve the financial position of the company. As a result of its efforts, one of its associated company i.e. ICC (Private) Limited in its board meeting held on May 13, 2013 has approved the write off/waiver of loans amounting to Rs. 220 Million given to ICC Textiles Limited. This waiver will result in financial viability of the company and benefit all of its shareholders.
We are enclosing the required material information as prescribed under SRO 143/ (I) 2012 dated 5th December, 2012.
Disclosure Form
In Terms of Section 15D of the Securities and Exchange Ordinance, 1969
Name of the Company ICC Textiles Limited
Date of Report May 14, 2013
Address: 242-A, Anand Road, Upper Mall, Lahore.
Contact Information Jawed Rashid-CFO/ G.M finance
Disclosure of transaction conducted by persons discharging managerial responsibilities within a listed company or persons closely associated with them in terms of Section 15D(5).
ICC (Private) Limited, an associated company of 1CC Textiles Limited in its board meeting held on May 13, 2013 has approved the write off/ waiver of loans amounting to Rs. 220 million given to ICC Textiles Limited.
For more information, contact:
Javed Rashid
CFO/ G.M. Finance
ICC Textile Limited
242-A, Anand Road, Upper Mall,
P.O. Box: 1280, Lahore- 54000, Pakistan
Tele: (042) 35751785-87
Fax: (042) 35789206,
E-mail: icctex@wol.net.pk