Saif Power’s shareholders approve sale of subsidiary’s Freehold land and other assets

MG News | June 28, 2021 at 12:55 PM GMT+05:00

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June 28, 2021 (MLN): The shareholders of Saif Power Limited (SPWL), in an Extraordinary General Meeting (EGM), held on June 26, 2021, have approved the sale of assets of Saif Cement Limited in terms of Section 183 of the Companies Act, 2017, for disposal of its freehold Land located at Tehsil Paharpur, Dera Ismail Khan, KP Province along with other assets.

To note, Said Cement Limited (SCL) is an unlisted subsidiary company of SPWL.

As per the notice, the company resolved that the Board be and is hereby empowered to agree upon modification in above resolution that may be directed / required by the SECP without the need of any other further approval of the shareholders.

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