SPL's BoD proposes voluntary winding up of Saif Cement

MG News | August 18, 2023 at 10:11 AM GMT+05:00

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August 18, 2023 (MLN): The Board of Directors (BoD) of Saif Power Limited (PSX: SPL) on Thursday recommended the voluntary winding up of Saif Cement Limited, an unlisted subsidiary company, in the best interest of the shareholders.

This is subject to the approval from shareholders in an Extraordinary General Meeting of the Company to be held on September 12, 2023.

Upon winding up, the proceeds from the subsidiary will go back to the Company which will utilize the received funds.

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