Karachi, May 14, 2012 (PPI-OT): As required under the proviso of Regulation No. 37(xxiii) of the Code of Corporate Governance, related to disclosure of material information, we would like to inform you that Board of Directors of National Foods Limited (NATF) has agreed the establishment of its offices outside Pakistan. The said proposal will be subject to meeting legal requirements and regulatory approvals.
These offices will be based in UAE, Canada and United Kingdom and expected to be operational within next two years. It is expected that the cost of licensing registration, warehousing and working capital requirement would initially be in the range of USD 350 to 450 Thousand.
For more information, contact:
Fayyaz Abdul Ghaffar
National Foods Limited
12/CL-6, Claremont Road,
Civil Lines, Karachi – 75530,
Tel: 9221-35662687, 35670793, 35670585