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The board of directors of Legacy Footwear has taken a number of decisions including raising fund from the existing directors/sponsors as per the requirements of the company.
In this regard, the company will hold an extraordinary general meeting (EGM) on March 25, 2018 at 12:00 noon at the Factory Premises in Gazipur.
“The board also decided that the Unit-2 of the company will be opened to manufacture shoes for local market,” said a disclosure posted on the Dhaka Stock Exchange (DSE) website on Sunday.
The board has also discussed thoroughly the expression of interest given by consortium of “Global Shoes Limited” and its associates, according to the disclosure.
“It was resolved in the board meeting that the company shall seek for a consortium investment from “Global Shoes Limited” and associates a sum of Tk 273 million for setting up Unit-2 and an up-gradation of the current production unit,” it said.
The directors/sponsors of the company have given their consent to invest Tk 117 million as their equity for the same.
“It was also resolved that Tk 280 million shall be allocated to set-up Unit-2 and remaining Tk 110 million shall be allocated to upgrade the current unit,” the disclosure added.
All the above decisions shall be placed in the upcoming EGM to be held on March 25, 2018, said the disclosure.
Each share of Legacy Footwear, which was listed on the Dhaka bourse in 2000, closed at Tk 64.60 on Thursday last at the DSE.