Island Textile Mills Limited informed Pakistan Stock Exchange that a meeting of the Board of Directors of the Company scheduled to be held on April 01, 2020 at Karachi to consider to consider, discuss, review, finalize and approve the Scheme of Arrangement and related Swap Ratios (along with other ancillary matters) pertaining to the potential merger/amalgamation is in progress.

The announcement is available at:

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Island Textile Mills Limited is a company incorporated in Pakistan on May 20, 1970. It is a public limited company the foundations of which are laid under the Companies Ordinance, 1984. The principal business activity of the company includes the manufacture and sale of yarn. The manufacturing facility of the company is located in Kotri Industrial Estate in the province of Sindh. The shares of the company are quoted on Karachi Stock Exchange of Pakistan. The registered office of the company is located at Karachi.

The symbol "ILTM" is being used by the stock exchange for the shares of Island Textile Mills Limited.

© Pakistan Press International, source Asianet-Pakistan