Karachi October 31 2023: Board of Directors of the Dandot Cement Company in their meeting held on October 31, 2023 have decided to accept the investment offer from Tetra Engineering (Pvt.) Limited.
As per said offer, the interest free loan of PKR. 500,000,000 (Rupees Five Hundred Million Only) will be injected in installments, from time to time, to complete the BMR and to support the working capital requirements of the Company. The loan will be convertible into shares of DCCL at the rate of Rs. 25 per share (Par value Rs. 10 + Premium Rs. 15).
Company cement production & related sales volume remained suspended due to closure of plant operations for BMR activity since September 2019.
Dandot Cement Limited is a public limited Company incorporated in Pakistan. The Company started its production on 1983 and has been engaged in production and marketing of cement. The company is a subsidiary of Calicom Industries (Pvt.) Limited.