Maple Leaf recommends more issue of shares
Wednesday, 7 April 2010
KARACHI, Apr 6 (Business Recorder): In order to ensure an orderly and timely restructuring arrangements of long term Sukuk and Syndicated loan, the board of directors of Maple Leaf Cement Factory Monday recommended further issue of 153.846 million ordinary shares of Rs 10 each other than rights at Rs 6.50 per share at a discount of 35 per cent.
The board of directors of the company said that the issue of these ordinary shares would be other than rights to Kohinoor Textile Mills Limited. The board took this decision in its meeting held Monday with the condition that the existing shareholders shall have right to subscribe shares in proportion to the paid up value of shares held be them as on April 26, 2010 out of the above-mentioned ordinary share at the aforesaid price within 45 days of the issuance thereof.
The board of directors of the company said that the issue of these ordinary shares would be other than rights to Kohinoor Textile Mills Limited. The board took this decision in its meeting held Monday with the condition that the existing shareholders shall have right to subscribe shares in proportion to the paid up value of shares held be them as on April 26, 2010 out of the above-mentioned ordinary share at the aforesaid price within 45 days of the issuance thereof.