Source: Gobi LC                        Date: 18 May, 2011

Gobi LC, the leading manufacturer of cashmere and wool products in Mongolia, held a general meeting of shareholders on April 22. It reviewed the financial report, the profit and loss account,   sales details, raw material stocks in 2010 and the target plan for 2011. This includes, executives told shareholders, a plan to double the capacity of the company’s knitwear manufacturing plant, a goal to be achieved by purchase of new equipment, and increasing the number of workers.

The Board of Directors had decided at a meeting on February 24 to declare a dividend of MNT100 per share.

In another development, Gobi launched its new Summer/Spring collection called GOBI by SAVERIO PALATELLA on April 25 at its Factory Store. The cooperation between Gobi and the well known Italian designer, Mr. Saverio Palatella, began last year.