The Ishtiaq Textile Mills Limited’s de-listing of the company and buy back of shares
Karachi, December 19, 2012 (PPI-OT): With reference to your letter no. KSE/Gen-8541 dated 10-12-2012 and in conformity of rule 30-D(i), we have to intimate you that the Board of Directors has decided to buyback of shares of minority shareholders by the sponsors and/or majority shareholders and formally apply for de-listing of Company. Certified copy of Board’s resolution is enclosed for your record.
Certified True Copy of Resolution to be Passed by the Board of Director of the Company in Meeting to be Held on December 18, 2012 for the De-Listing of the Company from Stock Exchange
“Resolved that the Dewan M Emran Farooqui Director of the Company be and is hereby authorized to approach the sponsors of the Company for Buy-Back of shares of General Public and also negotiate the price per share to be offered for the Buy-Back of shares.
Further Resolved that the obtaining consent of sponsors for Buy-Back of Company’s shares by them, the Dewan M Emran Farooqui Director of the Company be and is hereby authorized to apply for the de-listing of Company’s shares from Stock Exchange and take all necessary steps in this behalf.
The following director’s were present:
1. Dewan Zubair Ahmed Farooqui
Chairman/ Chief Executive
2. Dewan Abu Obaida Farooqui
3. Dewan Abu Saeed Farooqui
4. Dewan M. Rizwan Farooqui
5. Dewan M. Emran Farooqui
6. Dewan M. Rehnan Farooqui
7. Dewan M. Uazir Farooqui
For more information, contact:
Ishtiaq Textile Mills Limited
Dewan House 155, Napier Road,
Karachi – 74000, Pakistan
Ph: 32412332, 32430151, 32426901
Fax: (92-21) 32767038, 32434418