Ittehad Chemicals shareholders approve sale of 66-kanal land

MG News | February 19, 2025 at 04:59 PM GMT+05:00

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February 19, 2025 (MLN): The shareholders of Ittehad Chemicals Limited (PSX: ICL) have approved the disposal and sale of the company’s land, measuring approximately 66 Kanals, located in Mouza Hassanabad, Barki Road, Lahore, Pakistan.

The Chief Executive Officer of the company, or any authorized person, is empowered to take all necessary steps, actions, and decisions to complete the sale of the property.

They are also authorized to act on behalf of the company in performing all acts, matters, and deeds required to implement or give effect to the sale of the Sale Property and the related transaction.

The land is presently categorized under the head "Investment Property" in the company's financial statements, the company's filing on PSX revealed today.

The sale shall include buildings, cables, fixtures, and fittings related to the property.

ICL is engaged in the business of manufacturing and selling caustic soda and other allied chemicals.

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