Karachi, Crescent Cotton Mills Limited informed Pakistan Stock Exchange that Board of Directors meeting of the Company will be held on April 29, 2019 at Faisalabad. The agenda of the meeting will to consider the Quarterly Accounts for the period ended March 31, 2019.
Further, the company has declared the closed period from April 22, 2019 to April 29, 2019.
“The Crescent Cotton Mills Limited is a public limited company incorporated on March, 1959 in Pakistan under the Companies Ordinance, 1984. The company is engaged in business of textile manufacturing comprising of spinning, combing, weaving, dyeing, bleaching, printing, stitching, buying, selling and otherwise dealing in yarn, cloth and other goods and fabrics made from raw cotton and synthetic fiber. This assists in generating, accumulating, distributing, supplying and selling of electricity. The Company also operates a cold storage unit. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Lahore.
The closure of sugar as well as distillery units of the company the management and the board of directors considered changing the name of the company. On May 02, 2012 the name of the company was changed to “”Crescent Cotton Mills Limited”” from “”Crescent Sugar Mills & Distillery Limited””.
Crescot Mills Limited is the only subsidiary of the company with 66.15% holding. Due to heavy losses the company has ceased all production activities since August, 1998 and has disposed off some of its plant and machinery. The management of the Company has got the Company de-listed from the Karachi Stock Exchange.
The symbol “CCM” is being used by the stock exchanges for the shares of Crescent Cotton Mills Limited.”