Sohail Jute authorizes BoD to dispose land at best possible price

May 06, 2022 (MLN): Sohail Jute Mills Limited (SUHJ) has passed the special resolution wherein the board of directors (BoD) has been authorized to take all necessary steps to dispose of part of the land of the company with the structures thereon, at the best possible price and terms and, in a manner and, over a time period, that is commercially practicable, the company’s filing on the PSX said today.

It has been further resolved that the board has also been authorized to take all necessary steps that may be required to give effect to the disposal of the said property by entering into a joint venture, public-private partnership, and/ or participation arrangement.

As per the notice, the chairperson of the board would appoint a committee of directors to give effect to the proposed transaction with the approval of the board.

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