Bhanero Textile Mills Board approves sale of 27 acres of land to related party

MG News | March 10, 2026 at 11:34 AM GMT+05:00

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March 10, 2026 (MLN): Bhanero Textile Mills Limited's (PSX:BHAT) board of directors, has approved the sale and transfer of 27.08 acres of land at arm's length to related party M/s Umer Farms (Pvt) Ltd, under the provisions of Section 183 of the Companies Act, 2017.

The board resolved to convene an Extra Ordinary General Meeting (EOGM) to seek member approval for the said sale and transfer under the provisions of Sections 183, 207-208 of the Act.

The board further authorized Mr. Mohammad Salim and Mr. Muhammad Shaheen to act singly or to appoint an "Attorney" to sign, submit, and deliver the required documents to fulfil all legal formalities with the concerned authorities and execute the transaction in the most beneficial interests of shareholders and the company.

The aforementioned information was disseminated through a notification to Exchange.

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