Kohat Cement Board approves over Rs2bn combined investment renewal
Mettis Global • • 1 min read
According to Mettis Link News, the board of Kohat Cement Company Limited has approved a renewal of a loan or advance worth Rs600 million to Ultra Kraft (Private) Limited, an associated company. The arrangement falls under Section 199 of the Companies Act, 2017, and the board has recommended it to members for their approval. The information was shared with the Pakistan Stock Exchange through a notice filed by the company.
The board separately approved renewing and raising equity funding of up to Rs1,500 million for Ultra Properties (Private) Limited. The wholly owned subsidiary is developing a property scheme in Lahore. Taken together, the two approvals show Kohat Cement directing funds to an associated company and a Lahore property subsidiary.
At a glance
- Kohat Cement's board approved renewing a Rs600 million loan to Ultra Kraft, an associated company.
- Equity funding of up to Rs1,500 million for Ultra Properties was also renewed and increased.
- Ultra Properties is a wholly owned subsidiary developing a real estate project in Lahore.
Stocks in this story
Originally reported by Mettis Global
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