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    April 30, 2021

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    Asma
    The board of directors of Service Fabrics Limited met on April 30, 2021. Key decisions included: 1) No cash or stock dividends were approved. Financial results for the nine months ending March 31, 2021 were shared. 2) Several corporate actions requiring shareholder approval were recommended, including changing the company name and authorized capital. 3) An extraordinary general meeting was scheduled for May 29, 2021 to obtain shareholder approval for these actions. Notice will be provided 21 days in advance. 4) A memorandum of understanding was signed for a joint investment in a supercapacitor manufacturing project in Pakistan.

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    April 30, 2021

    Uploaded by

    Asma
    34 views3 pages
    The board of directors of Service Fabrics Limited met on April 30, 2021. Key decisions included: 1) No cash or stock dividends were approved. Financial results for the nine months ending March 31, 2021 were shared. 2) Several corporate actions requiring shareholder approval were recommended, including changing the company name and authorized capital. 3) An extraordinary general meeting was scheduled for May 29, 2021 to obtain shareholder approval for these actions. Notice will be provided 21 days in advance. 4) A memorandum of understanding was signed for a joint investment in a supercapacitor manufacturing project in Pakistan.

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    The board of directors of Service Fabrics Limited met on April 30, 2021. Key decisions included: 1) No cash or stock dividends were approved. Financial results for the nine months ending March 31, 2021 were shared. 2) Several corporate actions requiring shareholder approval were recommended, including changing the company name and authorized capital. 3) An extraordinary general meeting was scheduled for May 29, 2021 to obtain shareholder approval for these actions. Notice will be provided 21 days in advance. 4) A memorandum of understanding was signed for a joint investment in a supercapacitor manufacturing project in Pakistan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    34 views3 pages

    April 30, 2021

    Uploaded by

    Asma
    The board of directors of Service Fabrics Limited met on April 30, 2021. Key decisions included: 1) No cash or stock dividends were approved. Financial results for the nine months ending March 31, 2021 were shared. 2) Several corporate actions requiring shareholder approval were recommended, including changing the company name and authorized capital. 3) An extraordinary general meeting was scheduled for May 29, 2021 to obtain shareholder approval for these actions. Notice will be provided 21 days in advance. 4) A memorandum of understanding was signed for a joint investment in a supercapacitor manufacturing project in Pakistan.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    April 30, 2021

    The General Manager


    Pakistan Stock Exchange Limited
    Stock Exchange Building
    Stock Exchange Road,
    Karachi.

    DECISION OF THE BOARD MEETING

    Dear Sir,

    We are pleased to inform you that Board of directors of the Service Fabrics Limited (the
    Company) in their meeting held on April 30, 2021 at 1000hrs at Corporate Office of the
    Company has decided/approved as under:

    FINANCIAL RESULTS:

    a. Cash Dividend - Nil

    b. Bonus Shares - Nil

    c. Right Shares - Nil

    The Financial Results of the Company for Nine Months ending on March 31, 2021 are
    annexed. The Quarterly Report of the Company for the Period Ending on March 31, 2021 will
    be transmitted through PUCAR separately within specified time.

    OTHER MATTERS:

    Certain corporate actions/ decisions are taken by the Board of Directors for the subsequent
    approval from the shareholders in their general meeting that is recommended to be held on
    May 29, 2021.

    The key decisions taken by the Board of Directors in the meeting are as under.

    1. Adoption of Revival Business Plan for further submission to the SECP and to the
    honorable Court;
    2. Change of Name of the Company to the proposed name of G3 Technologies Limited
    to represent its revised/intended business activities;
    3. Increase in the Company’s authorized capital to Rs. 2.50 billion;
    4. Change in Object clause of the Memorandum of Association of the Company;
    5. Adoption/Change of Articles of Association of the Company;
    6. Holding of extraordinary General Meeting of the Company on Saturday, May 29, 2021
    at 1100hrs at Corporate Office of the Company for obtaining the approval of the
    shareholders.
    Share transfer books of the Company will remain closed from Friday, May 21, 2021 to
    Saturday, May 29, 2021 (both days inclusive).

    Office No 505, 5th Floor, LSE Plaza, Khayaban e Aiwan e Iqbal, Lahore
    Tel: 042-36304406
    7. Memorandum of Understanding (MoU) is signed with the Ghani Global Holdings
    Limited (GGL) for the joint investment in the Supercapacitor Project under Kilowatt
    Labs Technologies Limited to set-up manufacturing plant of the External Storage
    Devices in Pakistan with selling and distribution rights. Modalities and formal
    agreement will be finalized in due course of time.

    Notice of Extra-Ordinary General Meeting will be transmitted through PUCAR at least 21 days
    before holding of Extra-Ordinary General Meeting.

    You may please inform the TRE Certificate holders of the Exchange accordingly.

    Yours truly,
    For Service Fabrics Limited

    _________________
    Muhammad Usman
    Company Secretary

    Cc:

    a) The Commissioner
    Corporate Supervision Department
    Securities and Exchange Commission of Pakistan
    Islamabad

    b) The Director
    Surveillance Supervision Enforcement (SMD)
    Securities and Exchange Commission of Pakistan
    Islamabad

    Office No 505, 5th Floor, LSE Plaza, Khayaban e Aiwan e Iqbal, Lahore
    Tel: 042-36304406
    Annexure

    UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT


    (UN-AUDITED)
    FOR THE NINE MONTHS AND 3RD QUARTER ENDED MARCH 31, 2021

    9 Months Ended Quarter Ended

    March 31, March 31,


    March 31, 2021 March 31, 2021
    2020 2020

    Note Rupees Rupees

    Sales - - - -

    Cost of sales - - - -

    Gross Profit - - - -

    13
    Administrative expenses (7,041,524) (1,458,573) (6,687,059) (277,412)

    Operating (Loss) (7,041,524) (1,458,573) (6,687,059) (277,142)

    Other operating expenses


    - - - -

    Other income - - - -

    - - - -

    - -

    (Loss) before Taxation (7,041,524) (1,458,573) (6,687,059) (277,142)

    Taxation - - -

    Net Profit / (Loss) for the Period (7,041,524) (1,458,573) (6,687,059) (277,142)

    (Loss) per Share - Basic and


    Diluted (0.447) (0.093) (0.424) (0.018)

    Office No 505, 5th Floor, LSE Plaza, Khayaban e Aiwan e Iqbal, Lahore
    Tel: 042-36304406

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