Material Information of Fazal Cloth Mills Limited.

Karachi -- Fazal Cloth Mills Limited informed Pakistan Stock Exchange that the board of directors in its meeting held on June 10, 2020 Multan, has authorized the Chief Executive Officer of the Company, to disinvest up to 30,000,000 Ordinary Shares of Fatima Energy Limited out of 137,421,349 Ordinary Shares held by the Company, an associated undertaking, by way of sale of shares at such price and terms and conditions, as he deemed appropriate.

The announcement is available at:

https://dps.psx.com.pk/download/image/148807-1.gif

Fazal Cloth Mills Limited is a company incorporated in Pakistan as a private limited company in 1966. The foundations of the company are laid under the postulates of the Companies Ordinance, 1984. The company set up its first spinning units in 1972 at Muzzafargarh. The company owns and operates 7 Spinning units comprising 216,162 Spindles and 1740 Rotors.224 Air-jet Picanol Looms. All units have captive Gas Fired Power...