Karachi, Globe Textile Mills (OE) Limited informed Pakistan Stock Exchange that the company has been actively following up with Securities and Exchanges Commission of Pakistan for withdrawal of the winding up petition. Withdrawal of the winding up petition is essential for us to finalize discussions with potential investors/ joint venture partners for the revival of the company.
The Company was incorporated on December 29, 1980 as a public limited company. The principal activity of the Company is manufacturing and selling of yarn. The total numbers of shares are 4,660,000. The Earnings per share is (7.16) in 2016 which was (2.64) in 2015. The Company had a loss of Rs. (33,362,000) in 2016 which was (12,325,000) in 2015.