Oct 16, 2026, 2:49 PM
Crescent Fibres recommends sale of Nooriabad spinning unit land, subject to shareholder approval
Scheme / ArrangementThe board has unanimously recommended the sale/transfer of 14 acres and a building at the company’s Nooriabad S.I.T.E. spinning unit to shareholders for approval at an EOGM scheduled for November 10, 2026. The property is stated to measure 233,270 square feet. The announcement does not disclose a sale price or buyer.
Key Findings
- The board recommended sale/transfer of 14 acres and a building at Plot B/123, Nooriabad S.I.T.E., District Jamshoro, Sindh.
- The board also recommended convening an Extra Ordinary General Meeting to seek members’ approval for the sale.
- The EOGM is scheduled for November 10, 2026 at 9:30 a.m. at the company’s registered office in Lahore.
- Share transfer books will remain closed from November 3 through November 10, 2026, both days inclusive.
- No buyer, consideration, or expected completion date is disclosed.
Disclosure Details
Entities Involved
Crescent Fibres Limited
Approvals Required
Shareholders’ approval at an Extra Ordinary General Meeting
Impact
Proposed disposal of land and a building comprising 14 acres (233,270 square feet) at the company’s Nooriabad spinning unit; sale proceeds and financial impact are not disclosed.
Risks
The proposed sale is subject to shareholder approval., Buyer and sale consideration are not disclosed.
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.