SHEPHERD To invest 25.00 crore in paid up capital of Shepherd Textile (BD) Ltd. - Share market analysis of dhaka stock exchange, Bangladesh

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04 November, 2018 10:52 AM Source: Dhaka Stock Exchange

The Company has informed that the Board of Directors has decided to invest Tk. 25.00 crore in paid up capital of Shepherd Textile (BD) Ltd. subject to approval of the BSEC. The Board has approved the selling of approximately 453 decimals land of Shepherd Industries Limited located at Bhaluka, Mymensingh and 2 floors (5th & 6th) of Head office building measuring 708.40 square meter along with proportionate land located at Uttara, Dhaka to Shepherd Textile (BD) Limited in consideration of 2,500,000 ordinary shares @ Tk. 100.00 each of the Company. Price of the said land and building will be determined at fair market value. Shepherd Textile (BD) Limited is a 100% export-oriented industry and engaged in the business of manufacturing and marketing of Knitting fabrics. The said investment is expected to contribute an additional profit of approximately Tk. 5.00 crore towards overall profitability of the company. Post investment Shepherd Textile (BD) Limited will be an associate company of Shepherd Industries Limited.


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