KARACHI: Attock Cement has signed a memorandum of understanding (MoU) with K-Electric for the installation of 40MW coal-fired power plant at its factory situated in Hub, Balochistan, filing at the stock exchange by the company said on Thursday.

The company stated that the plant was being installed for the company’s own utilisation and to sell surplus power to K-Electric at mutually agreed terms and conditions.

Ravi Textile Mills: The company is a target for takeover of majority shares. The announcement was made on Thursday by the AKD Securities Limited acting as managers for the proposed transaction in which Ahsan Javed Sheikh and Mrs Parveen Ahsan had expressed intention to acquire up to 14.4m shares of the mills, which would comprise 57.42pc of the issued shares of the ‘target company’. The change of hands was stated to be “through an agreement”.

The public announcement of intention would be published on Jan 6 in accordance with section 9(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeover) Ordinance, 2002.

Published in Dawn, January 2nd, 2015