Karachi January 12 2021: Bawanyair management thank Pakistan Stock Exchange in guiding them for shifting their Company back to Normal Counter and highly appreciate their comments in this regard.
Management has made some progress to search an equity investor and terms and conditions are under discussion with several interested equity investors and we are hopeful to materialize deal in near future.
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Meanwhile, Company is earning rental income to cover administrative expenses to some extent and has rented out a small part of its property.
Company like to seek support and guidance from PSX and would request that such penal action should not be taken as it will:
a) spoil the efforts and progress made by the management as mentioned above
and will shatter the interest of any potential equity investor; and
b) damage the image of the Company and simultaneously interest of the minority
shareholders;
Company expect a positive and supportive role of PSX and request you again to not to impose any penal regulation to help the Company (and thereby ultimately helping the minority shareholders) to get out of this challenging phase.
