Latest news with #BoD
Business Recorder
21-05-2025
- Business
- Business Recorder
Shield Corporation to end diaper production
Shield Corporation Limited (SCL), a Pakistani manufacturer of baby care and hygiene products, has decided to discontinue producing diapers, while continuing operations in its other lines of business. The listed company announced the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'The Board of Directors (BoD) has made the decision to discontinue the production of diapers while continuing other lines of business,' read the notice. The BoD has authorised the Chief Executive Officer (CEO) to oversee the orderly discontinuation of diaper manufacturing by June 15, 2025, or earlier, based on operational and financial considerations. 'Explore and execute disposal of diaper machines and other assets related to production of diapers and carryout necessary enabling tasks,' the company said. Shield informed that the decision has been taken after a comprehensive review of the operational and financial performance, market dynamics, and future outlook of the product. The company believes that the discontinuation is expected to contribute to the improvement of the bottom line. 'The discontinuation is limited to the diaper product and the company continues its business, including manufacturing of its other baby care products such as baby feeder, baby nipple, soother, teethers, training cup, etc,' it added. SCL was incorporated in Pakistan as a public limited company in 1975. The company's principal business activity is the manufacturing, trading, and sale of oral hygiene and baby care products. SCL caters to the needs of over 300 towns and cities in Pakistan. Besides, the company has a presence in Europe, Asia, and Africa. On Wednesday, the share price of SCL closed at Rs260.73, a decrease of Rs4.28 or 1.62%.
Business Recorder
19-05-2025
- Business
- Business Recorder
Ferozsons mulls buying Barrett Hodgson Pakistan with local consortium
Ferozsons Laboratories Limited (FEROZ) is considering acquiring Barrett Hodgson Pakistan Pvt. Limited, a pharmaceutical company, in partnership with a consortium of prominent Pakistani business groups. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Monday. 'The Board of Directors (BoD) in their emergent board meeting held on May 17, 2025 reviewed the proposal recommended by the investment committee for the potential acquisition of Barrett Hodgson Pakistan Pvt. Limited, in conjunction with a consortium comprising leading business groups of Pakistan,' read the notice. As per the notice, the BoD further authorised the Chief Executive Officer and the Chief Financial Officer to perform due diligence, appoint advisors, sign all the documents in this respect and to do all other acts, including giving bid money, security, etc., in connection with the aforesaid potential acquisition. 'The final purchase price and equity investment will be approved by BoD based on the outcome of due diligence and other parameters, including relevant approvals,' FEROZ added. Manufacturing HIV drug in Pakistan: Ferozsons partners with US-based Gilead As per information available on the Barrett Hodgson Pakistan (BHP) website, the company ranks among the top 15 pharmaceutical companies in Pakistan. 'While catering to almost all the medicinal categories and specialities with quality products at affordable prices, we exist in the healthcare sector with a comprehensive portfolio of over 100 brands and 240 formulations,' the company states. Meanwhile, Ferozsons Laboratories Limited, incorporated in Pakistan as a public limited company in 1954 and later converted into a public limited company in 1960, is engaged in the manufacturing, import and sale of pharmaceutical products and medical devices. At the time of filing this report, FEROZ's share price stood at Rs294.50, registering an increase of Rs15.22 or 5.45%.
Business Recorder
13-05-2025
- Business
- Business Recorder
Lucky Core Industries proposes 5-for-1 stock split to enhance investor accessibility
Lucky Core Industries (LCI) has informed the exchange that its Board of Directors (BoD) has proposed the sub-division of equity shares subject to shareholder approval. 'It is hereby informed that in order to improve investor accessibility and participation, the BoD of Lucky Core Industries Limited has approved a sub-division of the face value of the shares of the company, subject to the approval of the members,' read the notice on Tuesday. As per the proposal, the face value of each ordinary share be reduced from Rs10 to Rs2 per share. 'As a result, the company's subscribed and paid-up capital, currently comprising 92,359,050 ordinary shares of Rs10 each, will be restructured into 461,795,250 ordinary shares of Rs2 each.' Thatta Cement plans 5-for-1 stock split to broaden investor base The company said that following the stock split, shareholders will be entitled to receive five shares of Rs2 each for every one share of Rs10 held. 'An Extraordinary General Meeting will be convened in due course to obtain members' approval for the above-mentioned matters,' it added. Following the announcement, LCI's stock price surged by Rs69.98, or 4.79%, and at the time of filing was hovering at Rs1,530 per share. LCI was incorporated in Pakistan as a public limited company as Khewra Soda Ash Company in 1953. In 1966, after a year of acquiring Fuller Paints Limited, the company changed its name to ICI Pakistan Manufacturers Limited. Later, Imperial Chemicals (Private) Limited was also merged into the company. In 2012, Lucky Holdings Limited acquired the majority shareholding of the company from AkzoNobel and became the holding company of LCI. The company changed its name from ICI Pakistan Limited to Lucky Core Industries Limited in December 2022. The company undertook other major acquisitions of Cirin Pharmaceuticals Limited, Wyeth Pakistan Limited, and Pfizer Pakistan Limited in the subsequent years. The company is engaged in five diverse businesses i.e. soda ash, polyester, chemicals & agri sciences, pharmaceuticals and animal health.
Middle East Eye
23-04-2025
- Politics
- Middle East Eye
UK: Board of Deputies of British Jews suspends vice-chair for Gaza protest letter
The UK's Board of Deputies (BoD) has suspended a senior member after she co-signed a letter criticising Israel's Prime Minister Benjamin Netanyahu and the war on Gaza. Harriett Goldenberg was one of 36 members of the UK's leading Jewish organisation who broke ranks to condemn Israel's actions over the past year and a half. Published in the Financial Times last week, the letter was the first public show of opposition to Israel's war on Gaza from within the BoD. Signatories urged the board, which has more than 300 elected deputies, to release a statement criticising the renewed offensive in Gaza last month but the organisation has not done so. Instead, Goldenberg and other signatories are 'subject to a complaints procedure' within the organisation following objections by officials within the BoD and members of the public, the body said on Tuesday. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Shortly after the letter was published, BoD President Phil Rosenberg said that the contents of the letter did not represent the organisation as a whole. The group also said that the decision to suspend Goldenberg had been taken unanimously by its executive members. In the letter, dissenting members had written: "The inclination to avert our eyes is strong, as what is happening is unbearable, but our Jewish values compel us to stand up and to speak out." "Israel's soul is being ripped out and we, members of the Board of Deputies of British Jews, fear for the future of the Israel we love and have such close ties to," it added. "Silence is seen as support for policies and actions that run contrary to our Jewish values." Goldenberg, vice-chair of the BoD's international division, told the FT that while "some fear the appearance of disloyalty, we feel it is essential as British Jews to speak up". Despite widespread accusations that Israel is conducting a genocide in Gaza, the BoD has been supportive of Israel's war and has opposed even mild attempts by British government officials to restrain the military campaign. In September, the BoD slammed the Labour government for imposing a partial arms embargo on Israel and has consistently voiced support for Israel's war on the besieged Gaza Strip, where more than 51,000 Palestinians have been killed since October 2023.
Middle East Eye
16-04-2025
- Politics
- Middle East Eye
UK: Members of prominent Jewish group break with leaders to condemn Israel over Gaza
Dozens of members of the largest body claiming to represent British Jews have broken with the organisation's leadership over their stance on the war in Gaza. In an open letter, 36 members of the Board of Deputies of British Jews (BoD) criticised the Israeli government for resuming its assault on Gaza, warning that "Israel's soul is being ripped out". Published in the Financial Times (FT) on Wednesday, the letter is the first public show of opposition to Israel's war on Gaza from within the BoD. Signatories urged the BoD, which has more than 300 elected deputies, to release a statement criticising the renewed offensive in Gaza last month, but the BoD has not done so. "The inclination to avert our eyes is strong, as what is happening is unbearable, but our Jewish values compel us to stand up and to speak out," the open letter says. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters "Israel's soul is being ripped out and we, members of the Board of Deputies of British Jews, fear for the future of the Israel we love and have such close ties to. "Silence is seen as support for policies and actions that run contrary to our Jewish values." 'Most extremist of Israeli governments' The letter criticises Israel's assault on Gaza and settler violence against Palestinians in the occupied West Bank, saying that "this most extremist of Israeli governments is openly encouraging violence against Palestinians in the West Bank, strangling the Palestinian economy and building more new settlements than ever". It further warns that the Israeli police force is "increasingly resembling a militia and repressive laws are being advanced as provocative partisan populism is bitterly dividing Israeli society". Harriett Goldenberg, vice-chair of the BoD's international division, told the FT that while "some fear the appearance of disloyalty, we feel it is essential as British Jews to speak up". She added: "Otherwise, we run the risk of being complicit. In Jewish history, silence is not a good thing." The BoD said that it is a diverse organisation and "others would no doubt put more emphasis on the fundamental responsibility of Hamas for this ghastly situation". "This diversity is not unlike the politics of Israel itself, whose rambunctious democratic culture sees a fierce exchange of views about these excruciating life and death issues." This past September, the BoD slammed the Labour government for imposing a partial arms embargo on Israel and has consistently voiced support for Israel's war on the besieged Gaza Strip.
