Resolution passed in annual general meeting of Dawood Lawrencepur Limited

Karachi: Dawood Lawrencepur Limited has informed Karachi Stock Exchange about the resolution passed in annual general meeting of the company held on April 10, 2014 at Karachi. The agenda of the meeting was approval of audited annual accounts for the year ended December 31, 2013 and appointing auditors and fixing remuneration for the year ending December 31, 2014.

Further, disposal of all the assets relating to the companies discontinued units which comprise land, building/ civil-work, plant and machinery and related assets have also been approved.

Dawood Lawrencepur Limited was incorporated in Pakistan in 2004 as a public listed company formed as a result of a Scheme of Arrangement for Amalgamation in terms of the provisions of the Companies Ordinance, 1984 between Dawood Cotton Mills Limited, Dilon Limited, Burewala Textile Mills Limited and Lawrencepur Woolen and Textile Mills Limited. In the year 2008 the company suspended its manufacturing operations located at Burewala, District Vehari and closed down the mill in 2009. All assets relating to the closed down unit have been classified as discontinued operations. The registered office of the company is located In Karachi. The shares of the company are listed on the Karachi and Lahore Stock Exchanges.

The company is engaged in the business of manufacturing fabrics using natural and man made fibers and blends thereof. It is also engaged in the business of trading and marketing renewable energy solutions, mainly solar, to domestic and industrial consumers. The company possesses investments in associates such as Dawood Hercules Corporation Limited. It is also a member of Karachi Chamber of Commerce and Industry.

The symbol “DLL” is being used by the stock exchanges for the shares of Dawood Lawrencepur Limited.