Karachi, Bawany Air Products Limited informed Pakistan Stock Exchange that they have completely received the amount and have paid off our liabilities only then they will be able to finalize the alternate business plan.
Given the current economic situation and political instability that they’re going through these days, there are many alternates that the Board considered and dropped based on the prevailing circumstances.
The decision to sell the Land Building and some parts of machinery is part of a strategic plan which requires time and attention on part of buyer as well as seller but with constant follow-ups and pressure from regulatory authorities, the counter party exploits and tries to negotiate a lower price, which is detriment to the interest of minority shareholders.
Bawany Air Products Limited is a public limited Company incorporated in Pakistan on August 16, 1978. The principal activities of the Company are production and trading of oxygen gas, dissolved acetylene and nitrogen gas. The manufacturing facilities are located at Hub Industrial Estate, Tehsil Hub in the province of Baluchistan.
The total numbers of shares are 7,502,510. The Earnings per share is (11.62) in 2020 which was (1.93) in 2019. The Company had a loss of Rs. 87,187,000 in 2020 which was 14,467,000 in 2019.