BoD of Imperial Sugar Ltd approves the sale of major assets of the company

MG News | January 07, 2019 at 11:30 AM GMT+05:00

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January 7, 2019 (MLN): The Board of Directors of Imperial Sugar Limited, at a meeting held on January 4, 2019, considered and approved the sale of freehold land, buildings on freehold land, plant and machinery and other assets of the Company located at K armanwala, Tehsil Phalia, and District Mandi Bahauddin, a notification by the company revealed on Monday.

Accordingly, the board seek consent of Shareholders in the forthcoming Annual General Meeting regarding the disposal and sale of Company's assets comprising of freehold land, buildings on freehold land, plant and machinery, furniture, fixture and equipment and other assets.

“The Board may delegate its powers to Chief Executive Officer (CEO) or any other person on such term and conditions they deem fit, to act on behalf of the Company in doing and performing all acts”, the notice further added.

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