Unity Foods addresses leadership matters amid Wilmar dispute

March 03, 2026 (MLN): Unity Foods Limited (PSX: UNITY) has clarified the transfer of management control to Wilmar International, emphasizing transparency and good governance while placing relevant factual information on record in light of recent public disclosures concerning its shareholders.

Pursuant to a Shareholders' Agreement dated December 21, 2025, between Mr. Farrukh Amin and Wilmar International Ltd., and resolutions passed at a duly convened meeting on December 23, 2025, management control of Unity Foods was assumed by Wilmar International with immediate effect.

Under this framework, a Wilmar International-approved Chief Executive Officer and Chief Financial Officer were appointed to lead the company, according to an official statement released by the company.

However, the Chief Executive Officer resigned on February 13, 2026, while the Chief Financial Officer continues to serve in that role.

Following these appointments, financial management and reporting functions have been administered under Wilmar International's authority, in accordance with the governance structure set out in the Shareholders' Agreement.

The company acknowledged that shareholder proceedings between Wilmar International and Mr. Farrukh Amin are currently pending before the competent court of law.

As these matters are sub judice, the company is constrained from commenting further on issues under adjudication.

Furthermore, the company's filing on PSX revealed today that it has been involved in three separate civil proceedings initiated between different sponsors, with Unity Foods included as a party in each matter.

It is monitoring these proceedings closely and will make further disclosures if and when required, in accordance with applicable legal and regulatory requirements.

The management remains committed to safeguarding stakeholder interests and enterprise value while the legal proceedings are ongoing.

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