Thal Industries plans land purchase to enhance storage facilities

By MG News | Category Equity | August 27, 2024 at 03:37 PM GMT+05:00

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August 27, 2024 (MLN): The Board of Directors of The Thal Industries Corporation Limited (PSX: TICL) has directed that the proposed acquisition of 112 Kanal 11 Marla of freehold land be presented for approval at the upcoming extraordinary general meeting of shareholders.

The land, which is adjacent to Unit 1 of Layyah Sugar Mills, Mandi Town, Layyah, is to be purchased from Mr. Muhammad Shamim Khan, Chief Executive Officer of the Company,

This acquisition is intended to facilitate additional storage for molasses, a bagasse storage yard, and a sugarcane yard.

TICL further informed that an Extraordinary General Meeting of shareholders will be held on Friday, September 20, 2024, to seek approval of the aforementioned business.

Accordingly, the share transfer books of the company for EOGM will remain closed from September 14, 2023, to September 20, 2024 (both days inclusive).

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