AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Zahidjee Textile Mills Limited revealed significant decisions pending approval by its members. The meeting resulted in the following resolutions, which could potentially shape the future of the company:
1. Capital Increase:
The board of directors approved a proposal to increase the authorized capital of Zahidjee Textile Mills Limited. Currently set at PKR 2,200,000,000 (Rupees two billion two hundred million only), divided into 220,000,000 ordinary shares of PKR 10 each, the authorized capital is set to rise significantly. Pending member approval, the proposed increase would raise the authorized capital to PKR 13,500,000,000 (Rupees thirteen billion five hundred million only). The augmented capital will be divided into 1,350,000,000 ordinary shares, also valued at PKR 10 each. Accompanying this change, the company intends to alter its Memorandum and Articles of Association accordingly.
2. Extraordinary-General Meeting:
Zahidjee Textile Mills Limited has scheduled an extraordinary-general meeting to finalize these proposals and seek approval from its members. The meeting will take place on Saturday, June 24, 2023, at the company’s registered office. The timing is set for 3:00 p.m., and all members are encouraged to attend and participate actively in the decision-making process.