Nishat Mills to establish private limited company in the UK

The Board of Directors of Nishat Mills Limited has accorded its approval to the incorporation of a private limited company in the United Kingdom (UK). 

The company has communicated this development through a notice to the Pakistan Stock Exchange (PSX) and has circulated the information to TRE Certificate Holders on Monday, as required under Section 96 of the Securities Act, 2015.

The new company in the UK will be established through Nishat Mills’ wholly-owned subsidiary, Nishat International FZE, based in the United Arab Emirates (UAE). 

"The Board of Directors of Nishat Mills Limited ("the Company") has accorded its approval to the incorporation of a private limited company in the United Kingdom through the Company's wholly-owned subsidiary, Nishat International FZE, United Arab Emirates, subject to the grant of all applicable regulatory approvals, and in compliance with all applicable laws," read the company’s notice. 

The incorporation is contingent upon obtaining all necessary regulatory approvals and complying with applicable laws.