Nishat Chunian to wind up property subsidiary

MG News | May 22, 2026 at 01:03 PM GMT+05:00

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May 22, 2026 (MLN): Marking another corporate restructuring move within the group, Nishat Chunian Limited (PSX: NCL) has decided to voluntarily wind up its wholly owned subsidiary, Nishat Chunian Properties (Private) Limited.

The decision was taken during the company’s Board of Directors meeting held today, according to a notice sent to the Pakistan Stock Exchange.

The board has recommended the voluntary winding-up of the subsidiary under the Companies Act, 2017, subject to shareholders’ approval through a special resolution.

To seek shareholders’ consent, the company will convene an Extraordinary General Meeting (EOGM) on June 29, 2026, at 11:00am.

Meanwhile, the company's share transfer books will remain closed from June 22 to June 29, 2026, both days inclusive, to determine shareholders eligible to attend and vote at the meeting.

The company did not disclose the financial impact or specific rationale behind the proposed winding-up of the subsidiary.

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