Brokers Asked to Suspend Margin Loans for STYLECRAFT Shares

The Company has informed that the Board of Directors of the Company has adopted the following resolutions: "To expedite production at the Company's newly built factory building as soon as possible, the Board decided to procure some electrical equipments i.e. Busbar Trunking System, Sub-Station Panel, LT Switchgears, Complete Double Shade Light and machineries at a approx. amount of Tk. 6.80 crore. Therefore, the Company will apply to Pubali Bank Ltd. for Tk. 6.00 crore (approx.) as term loan for five years, which will be adjusted from Company's future export proceeds with a provision of 6 months grace period, to start to pay off the first installment of the said term loan. The balance fund for Tk. 80.00 lac (approx.) be arranged from Company's own source as 12% margin."