Karachi, Yousaf Weaving Mills Limited has received regulatory approval from the Securities and Exchange Commission of Pakistan (SECP) for a significant issuance of shares as part of a strategic financial move.

The company's application, submitted under Section 83(1)(b) of the Companies Act, 2017, and in accordance with Regulation 5 of the Companies (Further Issue of Shares) Regulations, 2020, has been granted approval by the competent authority at SECP. This approval allows Yousaf Weaving Mills Limited to issue 46,000,000 ordinary shares with a par value of Rs. 10 each, amounting to a total of Rs. 460,000,000.

The shares will be issued through a mechanism other than a right offer, as specified in the application, and they will be provided to Mr. Khawaja Mohammad Nadeem in exchange for his outstanding loan to the company. This strategic move not only resolves a financial obligation but also strengthens the company's capital structure.

Shareholders and investors are encouraged to take note of this material information, and it will be disseminated to all TRE holders to ensure transparency and clarity regarding this significant development within Yousaf Weaving Mills Limited.