Extraordinary general meeting of Babri Cotton Mills Limited to be held on July 17, 2020.

Karachi -- Babri Cotton Mills Limited informed Pakistan Stock Exchange that extraordinary general meeting of the company is scheduled to be held on July 17, 2020 at Karachi.

The agenda of the meeting will be confirming the minutes of the annual general meeting held on November 23, 2019 and to elect seven directors of the Company, as fixed by the board of Director, in accordance with the provisions of Section 159 of the Companies Act, 2017 for a term of three years commencing from July 18, 2020.

Further, the closed period of the company is from July 10, 2020 to July 17, 2020 (both days inclusive).

The announcement is available at:

https://dps.psx.com.pk/download/document/149332.pdf

Babri Cotton Mills Limited was incorporated on the 26th of October, 1970 as a Public Limited Company under the capable professional guidance of founder chairman (Late) Lt.General (R) M Habibullah Khan Khattak. It was established as a textile spinning unit at Kohat with a capacity of 25,056 spindles. The mill is located in Kohat at a distance of 55 km south of Peshawar. Its Commercial production started in 1973.

The textile industry in Pakistan suffered a serious crisis from 1977 to 1985. Many mills were forced to close down their weaving and processing units especially in Khyber Pakhtunkhwa (Formerly N.W.F.P). However, from 1986 onwards the management of the company with untiring efforts converted this unit back to a profit earning unit. The...