Karachi, Taha Spinning Mills Limited informed Pakistan Stock Exchange that the Company has received a letter from BIPL Securities Limited accompanying with a public announcement of offer to acquire up to 1,809,504 shares approximately 44.68% of the total issued shares and 1,029,850 shares approximately 25.42% of the total issued shares through share purchase agreement with HMI Energy Pvt Ltd a major shareholder of the Company @ Rs. 2.01/- per share and control of Company by Mr. Muhammad Farrukh and persons acting in concert with the acquirer under the securities act, 2015. Taha Spinning Mills Limited is a company incorporated in Pakistan. The company converted to a public limited company on June 16, 1991. The foundations of the company are laid under the postulates of the Companies Ordinance, 1984. The principal activities of the business are manufacture and sale of yarn. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The mill of the company is located in Sheikhpura in the province of Punjab. The registered office of the company is located in Karachi. The symbol “THAS” is being used by the stock exchange for the shares of Taha Spinning Mills Limited.
Karachi, Hub Power Company Limited informed Pakistan Stock Exchange that the Company has today filed the scheme of arrangement in the High Court of Sindh for the demerger of its Narowal Plant into its wholly owned subsidiary Narowal Energy Limited. The hearing could not take place today and would be taken up by the Court at its discretion. HUBCO was incorporated in Pakistan in 1991as a limited liability company. The company owns oil-fired power station with installed net capacity of 1,200 MW in Baluchistan and 214 MW Punjab. The Hub Power Company is listed on the Karachi, Lahore and Islamabad Stock Exchanges. The Global depository receipts are also listed on the Luxemburg Stock Exchange. The production capacity of the power stations varies. The business partners of HUBCO are Water and Power Development Authority, Pakistan State Oil, National Transmission and Despatch Company Limited, BAKRI Trading Company Pakistan, Government of Pakistan, Government of Baluchistan and International Power. The symbol “HUBC” is being used by the stock exchanges for the shares of the Hub Power Company Private Limited.
Karachi, ICI Pakistan Limited informed Pakistan Stock Exchange that the disclosure made on October 25, 2016 in relation to the acquisition of 100% shares of Cirin Pharmaceuticals Private Limited, the transaction has been successfully completed and the Company has taken over control and ownership of the Company as a wholly owned subsidiary. ICI Pakistan Limited is a company incorporated in Pakistan. It is engaged in the manufacture of polyester staple fibre, POY chips, soda ash, specialty chemicals, sodium bicarbonate and polyurethanes. It also markets seeds, toll manufactured and imported pharmaceuticals and animal health products and is a merchant of general chemicals. Besides this the company also acts as an indenting agent and toll manufacturer. The registered office of the company is located in Karachi. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchange of Pakistan. The subsidiary of the company is ICI Pakistan Power Gen Limited incorporated in Pakistan as an unlisted public company. It is a wholly owned subsidiary company of ICI Pakistan Limited which is engaged in generating, selling and supplying electricity to the Company. The symbol “ICI” is being used by the stock exchange for the shares of ICI Pakistan Limited.
Karachi, Kohinoor Mills Limited informed Pakistan Stock Exchange that board of directors in its meeting held on December 22, 2016 at Kasur wherein the proposal for voluntary winding-up of Q Mart Corporation Private Limited, a wholly owned subsidiary of the Company was discussed and approved. Kohinoor Mills Limited is a public limited company incorporated in Pakistan on December 21, 1987 in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is engaging in the business of textile manufacturing covering weaving, bleaching, dyeing, buying, selling and otherwise dealing in yarn, cloth and other goods and fabrics made from raw cotton and synthetic fiber. Besides this the company also plays a vital role in generate and supplying electricity. The stocks of the company are quoted on Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in District Kasur. The company is certified ISO 9001:2000, Oekotex 100, SA 8000:2001, WRAP and C-TPAT. The symbol “KML” is being used by the stock exchanges for the shares of Kohinoor Mills Limited.
Karachi, Tri-Star Polyester Limited informed Pakistan Stock Exchange about transaction of shares of the company. 50,000 shares @ Rs. 14.32 per share were bought from the market on December 21, 2016. Tri Star Polyester Limited is a Polyester Filament Yarn manufacturing plant established in 1992 and is situated at S.I.T.E., Karachi having a capacity of 4,200 tons/annum based on 75 denier. The symbol “TRPOL” is being used by the stock exchanges for the Tri Star Polyester Limited.
Karachi, Silk Bank Limited informed Pakistan Stock Exchange that the board of directors of the Bank in its 155th meeting held on December 20, 2016, has allotted the remaining 1,282,052,282 right shares to the prospective shareholders subject to the regulatory approvals. Silk Bank Limited was incorporated in Pakistan on April 4, 1994 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The bank commenced its commercial operations on May 7, 1995. The bank is engaged in the banking services as described in the Banking Companies Ordinance, 1962. The bank operates through 88 branches including 10 Islamic Banking branches in Pakistan. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the bank is located at Karachi. The major share holding of the bank i.e. 82.406% in the bank as on September 30, 2013 is held by a consortium comprising of International Finance Corporation, Nomura European Investment Limited, Bank Muscat S.A.O.G. and executives of the Sinthos Capital Advisors Limited. The symbol “SILK” is being used by the stock exchanges for the shares of Silk Bank Limited.
Karachi, Indus Motor Company Limited informed Pakistan Stock Exchange that board of directors of the company have today passed a resolution accepting the resignation of Mr. Yoshiyuki Matsuo as the Director of the Company with effect from January 01, 2017 and has appointed Mr. Sadatoshi kashihara as Director of the Company. Indus Motor Company Limited is a public limited company incorporated in 1989 in Pakistan. The commercial production by the company started in May 1993. The company operates as a joint venture between the House of Habib, Toyota Motor Corporation and Toyota Tsusho Corporation of Japan. The operations of the company include assembling, manufacturing and marketing of Toyota and Daihatsu brand automobiles for domestic consumption. The company deals in the production of passenger cars, SUV’s, four wheel drives and commercial vehicles. The company deals in the production of passenger cars, SUV’s, four wheel drives and commercial vehicles. The manufacturing facility is located in Port Qasim, Karachi. The registered office of the company is also located in Karachi. The stocks of the company are quoted on the Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. The product is delivered nationwide through a strong network of 37 independent dealership spread across Pakistan. The workforce employed by the organization is more than 2000 workers. The production system of the company is built on application of Just-In-Time and Jidoka. The symbol “INDU” is being used by the stock exchange for the shares of Indus Motor Company Limited.
Karachi: Crescent Star Insurance Limited informed Pakistan Stock Exchange that the Company is in the process of launching its retail brand and will be entering into the business of products related to beauty/fashion and luxury items carrying various international brands for selling through Company’s planned retail outlets and distribution channels being launched by the Company under its strategy across Pakistan. Further, the Company intends to open three stores in the first year in Karachi/Lahore and Islamabad and will be followed by more stores in other cities of Pakistan. Crescent Star Insurance Company Limited was incorporated as a public limited company in the year 1957 under the Companies Act, 1913 now the Companies Ordinance, 1984. The company is a member of Insurance Association of Pakistan. It deals in the general insurance business providing services relating to fire, marine, motor and miscellaneous insurance. The branches of the company are located country wide. The registered office of the company is located in Karachi. The stocks of the company are traded on the Karachi and Lahore Stock Exchanges of Pakistan. The products of the company for the individual businesses include motor insurance, travel insurance, home care and shop owner’s policy. The services provided by the company to the businesses include fire & property insurance, marine cargo, marine hull, aviation, motor insurance, engineering insurance, health insurance and miscellaneous insurance related services. The symbol “CSIL” is being used by the stock exchange for the shares of Crescent Star Insurance Company Limited.