LEGAL STATUS OF THE COMPANY
Suhail Jute Mills Limited (the Company) was incorporated in Pakistan in 1981 as a Public Limited Company under the Companies Act, 1913 (now Companies Act, 2017). Its shares are quoted on Pakistan Stock Exchange in Pakistan. The Company is principally engaged in the business of manufacturing and sale of Jute products. The registered office of the company is situated at 14-B, Civil Lines, Rawalpindi, while the production facilities are a situated at Kabul River Railway Station, Mardan Road, Nowshera, Khyber Pakhtunkhwa.
MERGER OF (COLONY) SARHAD TEXTILE MILLS LIMITED WITH & INTO SUHAIL JUTE MILLS LIMITED
The Merger of formerly (Colony) Sarhad Textile Mills Limited (CSTM) with and into the Company, was made in pursuance of the court order sanctioning the scheme of arrangement for merger, whereby the entire undertaking of CSTM, including all properties, assets, liabilities, right and obligations of CSTM as at June 30, 2012 were marged with and vest in the Company in consideration for issue of 150,050 fully paid ordinary shares to the shareholders of CSTM which rank pari passu with the existing shares of the Company.
CSTM was incorporated in Pakistan as a private limited company in 1953 under the Companies Act, 1913 now the Companies Ordinance, 1984 and was converted into public limited company in 1955. CSTM was listed on Pakistan Stock Exchange and principally engaged in the business of manufacturing and sales of yarn and gray fabrics.