August 29, 2022 (MLN): The Board of Directors (BoD) of Javedan Corporation Limited (PSX: JVDC) on Saturday recommend to the shareholders for their approval of the sale of the Globe Residency REIT, the company filing on PSX showed today.

The disposal of 100% units of the Globe Residency REIT, a wholly owned subsidiary will include a minimum requisite percentage by way of an offer for sale after obtaining all regulatory approvals in accordance with the applicable laws, rules, and regulations.

BoD has also advised the REIT Management Company of the REIT Scheme to initiate the process of listing/offer for sale of the units of the REIT Scheme. After listing, the Globe Residency REIT will become Pakistan's first listed developmental REIT.

The extraordinary general meeting of the shareholders of JVDC will be held on Wednesday, September 21, 2022, in Karachi to approve the matters stated above.

Copyright Mettis Link News

Posted on:2022-08-29T10:03:32+05:00

34818