Haji Mohammad Ismail Mills Limited said on Thursday it was considering a merger with and into a prosperous company and had also passed some resolutions in this regard.
It shared the development in a notice to the Pakistan Stock Exchange (PSX) today.
In its meeting held on Thursday, the company resolved that the revival plan will be reviewed thoroughly and “if feasible in the best interest of the company and its shareholders, be executed”.
It also resolved that the plan will be approved by the shareholders of the company.
The principal business of the company was the manufacture and sale of yarn and power generation.
Subsequently, during 2017, the management added new object clauses in the Memorandum of Association from Textile/ Power Generation to trading/ distribution of fast-moving consumer goods and other lawful business objects.
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