Progress Report for the quarter ended 30.06.2025

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of Hessian Cloth. Twinn

t. Hafiz Maqsood uunshi

stock E toClt Exchange Road

Manager, Companies and Securities Compliance-RAD Pakistan StOClt Exchange Limited

Xchange Building,

WCHI-74000

P_R E REPORT FOR THE UARTER ENDED 30 J

progress report.

Reference tO $OUF letter No.Gen-1394 Dated July 16, 2025 received on July 21, 2025 regarding

We are pleased IO provide you with a progress report in respect of Suhail Jute Mills Ltd., for the

quarter ended 30 June 2025

Despite our best efforts, there has been no meaningful progress in respect of the sale of land

the quarter under report. This is due primarily to the security situation and the political and

economic uncertainties prevailing in Khyber-Pakhtunkhwa.

As we

entirely

have been reporting previously,the commencement of commercial operations depends upon raising adequate financing for working capital and the settlement of outstanding

obligations to creditors, including institutions who have secured

As reported earlier, a Plan was presented to the SECP and the viability of the plan was accepted by the SECP after being duly scrutinized. Based on their recognition of the viability of the proposed Plan, the SECP, on 18 April 2023, concluded their proceedings against the Company initiated under Section 304 of the Companies Act 2017.

The Plan for Land development involves conversion of existing Land to smaller sized industrial

plots. This proposal entails the outright sale of 20 acres of land for approximately RS 480

million, with the funds generated from the sale, in turn, being applied to the costs of converting

kanals of Land into Industrialplots of different sizes; it is estimated that the proceeds from

the sale of re-sized plots would be approximately RS 2.5 Billion,

Cont/P-2

M rep rted earlier, the available for salefollowing the

ther

er Of (Colony) Sarhad Textile Jute Mills Limited. Additionally,

e COmpany owns a fully functional , which has been maintained in

U**!*g order.The existing unitis capable of generating revenue, once working capital becomes

available, andcommercial production recommences.

lt is Projected that the finances generated from the sale of land would be sufficient to cover the MOst pressing and immediate liabilities and leave the Company with sufficient margin to raise W {Flg Capital for reviving commercial operations. In any event, the plotting and sale of land WOulc{ QOt Impact the existing jute manufacturing and ancillary facilities, which remain intact.

It is notable that the principal sponsors continued to substantially increase their financial stake in

the

COMP

any

and

have injected further funds to keep the Company afloat during the period

pany d

As is evident

from the record, the sponsors have financially sustained the

nteresieq

uring

the entire time it has remained non- operational and are obviously most

rs.

takeholae n being able

to restart operations so as to recoup their investment and benefit all

We contiDue tO make strenuous efforts to materialize the plan so as to generate the necessary funds tO SUstain and revive the commercial operations.

We trust the above is in order.

OUrs truly,

For, E MILLS LIMITED

SOHAIL FAROOQ SHAIKH CHIEF EXECUTIVE