J K Spinning Mills : Material Information

Ref: JKSM/T-107/2023

Date: 06/01/2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road

Karachi.

Sub: Material Information

Dear Sir

In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 (a) of PSX Regulations, we are pleased to disclose the following material information;

1. That the J.K. Spinning Mills Limited is working at its full capacity of 149,188 Spindles and want to enhance the spinning capacity to fulfill future requirements of the customers. In this regard, civil work has been completed for spinning unit comprising 52,896 spindles. Approx. 90% of machinery has been imported against LC's and installation of machinery is in progress, which is likely to be commissioned in 3rd quarter of current financial year. For the purpose, Company has arranged funds of Rs. 3.7 billion, out of which Rs. 2.4 billion acquired through LTFF facility & Rs. 1.3 billion are equity based.
2. That another bleaching plant having capacity to produce 100,000 meters fabric per day is under implementation phase, which is likely to be completed in 3rd quarter of current financial year.

By adding these machines, company's profitability will be improved, enabling company to achieve its goals.

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

Thanking you.

For: J.K. Spinning Mills Ltd.

Syed Hussain Shahid Mansoor Naqvi

Company Secretary