Ghazi Fabrics shareholders approve sale of 175 Kanal land in Kasur

By MG News | Category Equity | June 04, 2025 at 02:52 PM GMT+05:00

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June 04, 2025 (MLN): The shareholders of Ghazi Fabrics International Limited (PSX: GFIL) have approved the sale of the company’s land, measuring approximately 175 Kanal and 10 Marla, located at Mohal Chak No. 66 (Dina Nath), Tehsil Pattoki, District Kasur, Pakistan.

The land, referred to as the Sale Property, will be sold on terms negotiated and finalized by an authorized representative of the company.

To facilitate the transaction, the Board of Directors has been empowered to make any necessary modifications to the resolution, the company's filing on PSX revealed today.

These modifications may be required by the Securities and Exchange Commission of Pakistan (SECP) or any other competent authority or regulator, without the need for further shareholder approval.

Furthermore, the Chief Executive Officer and/or Company Secretary have been authorized individually to handle all statutory filings, announcements, and communications related to the sale.

This includes submission of e-filings to the Registrar of Companies, PSX, and any other relevant authorities.

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