The board of directors of Zaheen Spinning Limited has informed that they have successfully set up electric substation which will reduce the risk of interruption in production.
The board of directors of company announced that they have successfully set up a 33/11/0.415KV, 4MVA electric substation for sanctioned load of 3,000KW/3MW with a captive capacity of 1,000KW/1MW, said a disclosure posted on the Dhaka bourse website on Monday.
Installation of Busbar Trunking (BBT) system in the electric substation has also been completed. Test run is on for more scrutiny, said the disclosure.
The board of directors of the company has been satisfied for successful completion of the said installation and decided to run the mill by electricity from December 18, 2017 subject to availability of power supply by REB which will reduce the risk of interruption in production.
On October 30, 2016, the board approved Tk 50 million for import and installation of power BBT, GAS generator, yarn quality machine and compressor.
Each share of the company, which was listed on the Dhaka bourse in 2015, closed at Tk 22.70 on Sunday at the Dhaka Stock Exchange (DSE).
The board of directors of the company has recommended 15 per cent stock dividend for the year ended on June 30, 2017.
The company’s paid-up capital is Tk 985.53 million and authorised capital is Tk 4.0 billion while the total number of securities is 98.55 million.
Sponsor-directors own 31.10 per cent stake in the company while the institutional investors own 24.73 per cent and the general public 44.17 per cent as on October 31, 2017, the DSE data shows.