The Securities & Exchange Commission of Pakistan (SECP) recently approved the Form-26 for Jubilee Spinning and Weaving Mills Limited to change their main line of business.
The company submitted two separate Form-26; (1) for the change of the principal line of business of the company, and (2) the change of company name. The company informed the authorities the everything is in accordance with local rules and regulations.
Where the first form has been approved by SECP, the company is waiting for the approval of the second form. The second form is pending due to the consent of secured creditors of the company.
The company will submit the consent from the secured creditors to the SECP soon as they receive a NOC. Once the submission is completed, the company will apply for the Certified True Copy of Memorandum of Association to the SECP.
It is informed that based on the approval of Form-26 for the Memorandum of the Company, the company has requested PSX to remove its name from the Defaulters’ Segment under sub-clause 5.11.1(a) and (b) of the PSX Regulations.
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