2024-03-27 06:09:26
The board of directors of Esquire Knit Composite plc, a listed company in the textile sector, has decided to invest in its subsidiary. However, the company has amended the information disclosed about investment in subsidiaries. At the same time, the Board of Directors meeting approved the investment in subsidiary company L’Esquire.
On Wednesday (March 27), Dhaka and Chittagong Stock Exchange (DSE-CSE) informed this information.
In the board meeting held on March 20, the board of directors of Esquire Net Composite plc decided to invest in their subsidiary company. However, the company has amended the information disclosed about investment in subsidiaries. In the amendment, they said, it has been decided to invest 5 crore rupees in subsidiary company L’Esquire Limited. However, while Esquire will invest 5 crore net rupees, Esquire will withdraw the same amount of investment from ICL Apparel Fund. The company has an investment of 10 crore rupees there.
Company authorities feel that this will fulfill the upcoming export opportunities and secure income and dividends.