Sana Industries to divest investment property, warehousing assets

MG News | December 16, 2024 at 10:38 AM GMT+05:00

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December 16, 2024 (MLN): The Board of Directors (BoD) of Sana Industries Limited (PSX: SNAI) has approved the sale of its investment property, including land, buildings, and equipment such as plant and machinery, along with any additional machines or parts supporting them.

The company will also sell the plant and machinery, auxiliary machinery, parts, furniture, and fixtures of its subsidiary, Sana Logistics (Private) Limited, associated with the warehousing business.

Mr. Mohammed Irfan Nawab, the Chief Executive Officer, and Mr. Ibrahim Younus, the Chairman, have been individually authorized to implement the resolution.

They are empowered to sign and deliver any necessary documents, take the required steps, and perform actions on behalf of the company to fulfil the resolution and achieve its objectives.

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