Karachi June 2 2022: The Board of Directors of the Millat Tractors Limited (MTL) in their meeting held today on 02-06-2022 has recommended to the shareholders of the Company an increase in authorized capital of the company from Rs. 1,000,000,000/- divided in 100,000,000 shares of Rs.101- each to Rs.2,000,000,000/- divided in to 200,000,000 shares of Rs.10/- each for their approval in upcoming Extra Ordinary General Meeting to be held on June 27, 2022.
Millat Tractors Limited is a public limited company and was incorporated in Pakistan in 1964 under the Companies Act, 1913 (now the Companies Act, 2017). The Company is principally engaged in assembling and manufacturing of agricultural tractors, implements and multiapplication products. The Company is also involved in the sale, implementation and support of IFS applications in Pakistan.