The Company had earlier informed the Stock Exchanges regarding incorporation of the aforesaid entity in the United Kingdom with a proposal to subscribe to its share capital. However, the proposed subscription amount was not remitted, and no shares were allotted/acquired by the Company. Consequently, the aforesaid entity did not become a wholly owned subsidiary of the Company.

The entity did not commence any business operations since its incorporation and remained dormant/nonoperational. The dissolution of the aforesaid entity does not have any material impact on the business operations, financial position or profitability of Hazoor Multi Projects, as no investment had been made by the Company therein.