Karachi, Zephyr Textiles Limited informed Pakistan Stock Exchange that the Extraordinary General Meeting of the Company is scheduled to be held on April 13, 2023 at Lahore, to consider and If deemed fit, pass with or without modification, a resolution as Special Resolution, as proposed in the Statement of Material Facts, pursuant to the provisions of Section 208 and all other applicable provisions of the Companies Act, 2017 to ratify and approve the transaction of acquisition of land by the Company.
Resolved that pursuant to the requirements of Section 208 and all other applicable provisions of the Companies Act, 2017 and related rules and regulations made thereunder, approval and ratification of the members of Zephyr Textiles Limited the "Company") be and is hereby accorded and the Company be and is hereby authorized the acquisition of land comprising 46.29 acres valued at PKR 231.47 Million from Mr. Mussaid Hanif, Mr. Arbab Muhammad Khan, Ms. Sabah Buchan and Ms. Henna Hag related parties.
Further resolved that Further resolved that the Chief Executive Officer be and Is hereby singly empowered and authorized to take all steps and actions necessary, incidental and ancillary including execution of any and all documents and agreements as may be required in this regard and to do all acts, deeds and things, that may be considered for the purpose of implementing this resolution.
Zephyr Textiles Limited was incorporated in Pakistan on February 26, 1999 as a private limited Company. Subsequently on October 04, 2004 it was converted into a public limited Company. The Company is principally engaged in the manufacturing, dying and trading of woven cloth which also includes towels.
The total numbers of shares are 59,428,729. The Earnings per share is 0.93 in 2020 which was 1.98 in 2019. The Profit after Taxation is 55,072,000 in 2020 which was 117,838,000 in 2019.