Karachi December 8 2021: Samin Textiles management is analyzing a potential opportunity of acquisition of the Home Appliances business from Waves Singer Pakistan Limited (WSPL) and seeking cooperation/JV with a leading global player in the Home Appliances business. Therefore, the Board has authorized the management to conduct necessary evaluation/recommendation of the potential acquisition as may be determined by the management of respective companies with the help of independent experts and consultants as may be required.
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The final terms of the potential acquisition transaction shall be subject to the approval of the Board and completion of necessary corporate, legal and regulatory formalities as the case may be.
Meanwhile, the Company is actively engaged in trading activities and has achieved a significant turnover in last few months, alongside has also secured a long term trading contract of Rs. 250 Million for FY 22.
