Mohammad Farooq Textile Mills Limited’s placement of your company on the Non-Compliant Segment of the Exchange on account of Default of the Listing Regulation
Karachi: We would like to inform you that due to closure of production facilities and termination of most of the employees with effect from the end of October 2010 owing to acute shortage of working capital and mounting losses in the absence of implementation of the financial restructuring agreements reached with the Banks in May 2010, it has not been possible for the company to declare any dividend /bonus to its shareholders.
In view of the foregoing facts we hope you will please understand the position and shall defer any action which may harm the interest of the Company and its Shareholders.
For more information, contact:
Mohammad Farooq Textile Mills Limited
Plot 6 and 7, sector 21,
Korangi Industrial Area,
P.O. Box 4628,
Tel: +9221 5011571-5, 5023006-8
Fax: +9221 5011607, 5015498
Email: [email protected]