Ghazi Fabrics Board greenlights sale of land

MG News | May 12, 2025 at 02:45 PM GMT+05:00

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May 12, 2025 (MLN): The Board of Directors of Ghazi Fabrics International Limited (PSX: GFIL) has approved the sale of a piece of land measuring approximately 175 Kanal 10 Marla, through a resolution passed in a duly convened meeting held on 12th May 2025.

The property is situated in Mohal Chak No 66 (Dina Nath), Tehsil Pattoki, District Kasur, the notification issued to the local bourse.

The board's decision aligns with the company’s strategy to optimize asset utilization and enhance shareholder value.

However, the transaction remains subject to final approval by shareholders under Section 183(3)(a) of the Companies Act, 2017.

Details regarding the buyer, sale consideration, and payment method will be disclosed once finalized, in accordance with applicable laws and regulatory requirements.

An Extraordinary General Meeting (EOGM) has been scheduled for 4th June 2025 at 10:00 am at the company’s registered office located at 8-C, E-III, Gulberg-III, Lahore.

The notice for the EOGM will be communicated in due course.

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