Crescent Fibres board recommends sale of Nooriabad Spinning Unit-1

MG News | October 16, 2026 at 03:18 PM GMT+05:00

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October 16, 2026 (MLN): The sale of 14 acres of land and the building on it, which houses Spinning Unit-1 at Nooriabad, S.I.T.E., District Jamshoro, has been unanimously recommended by the board of directors of Crescent Fibres Limited (PSX: CFL).

The building measures 233,270 square feet and sits at Plot # B/123, Nooriabad S.I.T.E., District Jamshoro, Sindh. The board took the decision on October 16, 2026, and also recommended holding an Extra Ordinary General Meeting (EOGM) to seek shareholder approval for the sale/transfer of the land and building.

The EOGM will take place on Tuesday, November 10, 2026, Lahore. Shareholders will vote on a special resolution to approve the sale.

The share transfer books will stay closed from November 3 to November 10, 2026 (both days inclusive).

The aforementioned information was disseminated through a notification to Exchange.

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