Crescent Fibres board recommends sale of Nooriabad Spinning Unit-1

Crescent Fibres Limited (PSX: CFL) has unanimously backed a proposal to sell 14 acres of land and the building that houses Spinning Unit-1 at Nooriabad, S.I.T.E. in District Jamshoro. Mettis Global reported that the directors took the decision on October 16, 2026. The board also suggested calling an Extra Ordinary General Meeting so that shareholders can approve the sale or transfer.

The site covers a building of 233,270 square feet at Plot # B/123 in Nooriabad, Sindh. The EOGM is set for Tuesday, November 10, 2026, in Lahore, where a special resolution approving the disposal will be put to members. The transfer register will be shut for the period between November 3 and November 10, 2026, counting both days.

The notification was sent to the stock exchange. The sale remains subject to shareholder approval, which makes the EOGM the next key step for the company.