Tariq Corporation cancels plan to sell assets

MG News | October 02, 2023 at 12:12 PM GMT+05:00

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October 02, 2023 (MLN): The Board of directors of Tariq Corporation Limited (PSX: TCORP) has decided not to pursue the proposed sale of its assets located at Lahore Road, Tehsil Jaranwala, District Faisalabad, comprising land, buildings constructed thereon, plant and machinery, furniture and fixtures, equipment, and other ancillary assets.

As per the latest notice issued by the company to the PSX, the decision was taken through a resolution dated September 27, 2023, passed by circulation.

Therefore, the Board will not proceed to sell the aforementioned assets and or to act upon any alternate plan for the disposal of assets.

"In this regard, it has also been resolved that cancellation of permission from the members already obtained for disposal of the assets shall be sought from them in the ensuing General meeting of the company." the notice reads.

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