Karachi September 19 2021: Hudson Pharma (Private) Limited, a subsidiary company of Ismail Industries Limited, is setting up Pakistan's first Vitamins & Minerals Premix facility, as per information shared by its parent company at Pakistan Stock Exchange (PSX).
For this purpose, the Board of directors of Ismail Industries limited has decided to make further long term equity investment in its subsidiary company M/s. Hudson Pharma (Private) Limited up to PKR 800 million (Rupees: Eight hundred million only) to meet its capital expenditures requirement of expansion planned for setting up of Pakistan's first Vitamins & Minerals Premix facility as well as for operational expenses / working capital requirements,
The Board has decided to further increase the Cross Corporate Guarantee amount for its subsidiary company M/s. Hudson Pharma (Private) Limited as approved by the shareholders in the Extra Ordinary General Meeting of the Company held on April 12, 2021 from PKR 600 million (Rupees: Six hundred million only) to PKR 700 million (Rupees: Seven hundred million only).
Both these transactions are subject to the approval of shareholders in the forthcoming Annual General Meeting of the Company.