The major shareholders have passed a special resolution in favour of “Members Voluntary Winding up” of the Company in the AGM held on 29 March 2022.

Accordindly, the liquidator has been appointed in the same meeting and the process of liquidation has been duly started, complying with the relevant provisions of the Companies Act 2017.

Further the necessary documents in this respect have been submitted with Securities & Exchange Commision of Pakistan, given in the official gazette for printing and the required notices have also been published in newspapers as per requirements.

On advice of major shareholders, the auditors of the company have also been changed.

It is expected that the winding up of the company shall be completed well within the time frame, as has been prescribed in the Companies Act 2017.