Karachi: Premium Textile Mills Limited has announced a strategic move to invest up to PKR 20 million in a new joint venture, Recover Pakistan (Private) Limited, as per a report dated September 11, 2026. The decision was ratified by the company's Board of Directors through a Circular Resolution on September 10, 2026. The proposed joint venture aims to enhance the company's reach in the domestic and international markets through the sourcing, sale, and trading of recycled cotton fiber and related textile products.

The investment, which is aligned with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Rule Book, is expected to open new avenues for Premium Textile Mills Limited, contributing to its profitability and enhancing shareholder value. This move comes as part of the company's broader strategy to capitalize on sustainable textile production and tap into emerging markets.

According to information available from the Pakistan Stock Exchange (PSX), the joint venture with Recover HoldCo, Inc. emphasizes the company's commitment to sustainability and innovation in the textile industry. The investment is pending approval from the company's members at the upcoming Annual General Meeting.

The disclosure of this material information, as mandated by the securities act, has been communicated to the relevant stakeholders, including TREC holders, ensuring transparency and adherence to regulatory requirements in the designated market category.