Merit Packaging gets shareholder consent to sell assets

June 30, 2025 (MLN): Merit Packing Limited (PSX: MERIT) has obtained shareholder consent for the disposal and sale of the Company’s assets, comprising the Plant and Machinery (Flexible Packaging Unit) and Goodwill.

The assets, located at 17-B, Sector 29, Korangi Industrial Township, Karachi, will be sold for a total consideration of Rs:1 billion based on the best available quote from the interested party.

The Board of Directors is authorized and empowered to carry out the sale of the Assets, the notification issued to the local bourse.

They may delegate this authority to the Company Secretary, Chief Financial Officer, and/or a Director, under terms and conditions they consider appropriate, to act on behalf of the Company in executing and implementing the asset sale and the associated transaction.

This includes, Selling the Assets to Kompass Pakistan (Private) Limited (the buyer) and entering into the asset sale agreement or any other related agreement, including receiving the sale proceeds.

This also includes executing and signing sale and transfer documents in favor of the buyer and representing the Company before all relevant authorities for the execution and admission of such documents.

Performing all necessary lawful deeds, agreements, and actions required to implement and complete the sale of the Assets.

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