Karachi, Lotte Chemicals Pakistan Limited informed Karachi Stock Exchange about extraordinary general meeting of the company scheduled to be held on November 25, 2014. The agenda of the meeting will be resolution of the scheme of Arrangement for amalgamation dated 26 August 2014 between Lotte PowerGen (Private) Limited and its Members and Lotte Chemical Pakistan Limited and its Members, considered by this meeting and initialed by the Chairman of this meeting for purposes of identification, be and is hereby approved, adopted and agreed. Further, the closed period of the company is from November 19, 2014 to November 25, 2014 (both days inclusive). Lotte Chemical Pakistan Limited formerly Lotte Pakistan PTA Limited is incorporated in Pakistan. The company is engaged in the manufacture and sale of Pure Terephthalic Acid an essential raw material used in the polyester industry. The company is also engaged in manufacturing Polyester Staple Fibre, Filament Yarn and PET resin. The production capacity of the plant is around 500,000 tons per annum. It is a subsidiary of Lotte Chemical Corporation and the ultimate parent company is South Korean conglomerate Lotte. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Karachi. The symbol “LOTCHEM” is being used by the stock exchanges for the shares of Lotte Chemicals Pakistan Limited.
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