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Unusual Movement in price or volume of Towellers Limited

Karachi, Towellers Limited informed Pakistan Stock Exchange that they are not aware about any developments, whatsoever, that took place, and which might have resulted in the unusual movements in share prices.

Further there is no material information which has not previously been disclosed to the market in terms of section 97 of the Securities Act, 2015 and clause 5.6.3 of Pakistan Stock Exchange Regulations.

Moreover, the Company is fully cognizant of all applicable legal and regulatory procedures and requirements and will continue to ensure compliance with the same.

The company was incorporated in Pakistan as a private limited company on May 31, 1973 and subsequently converted into a Public Limited Company on June 22, 1994. The principle activity of the company is to manufacture and export textile make ups, garments and towels. The company is currently maintains in-house processing, weaving, knitting and finishing facilities.

Incorporated in 1987, the Towellers knit apparel division is vertically integrated unit that manufactures 6 million units annually and has the diversity of producing basic lines along with washed and embellished value added collections

The total numbers of shares are 17,000,000. The Earnings per share is 14.18 in 2020 which was 23.69 in 2019. The Profit after Taxation is 275,894,000 in 2020 which was 402,684,000 in 2019.