Karachi, International Steels Limited has disclosed a significant development following an emergent Board meeting held on April 16, 2024. The Board has approved a Memorandum of Understanding (MOU) aimed at forming a new entity in collaboration with associated companies. This move is designed to explore potential opportunities in their respective fields. The details of the MOU and the associated companies involved have not been disclosed.
This information was provided as per the requirements of Clause 5.6 of the Rule Book of the Pakistan Stock Exchange (PSX) and Sections 96 & 131 of the Securities Act, 2015. The transmission of this information was facilitated through PUCARS for record and further dissemination to TRE Certificate Holders of the Exchange.