Lahore: The Board of Directors of The Thal Industries Corporation Limited has scheduled an extraordinary general meeting (EOGM) for shareholders to discuss a significant land acquisition. The meeting, convened as per the regulations of the Pakistan Stock Exchange Limited and the Securities Act, 2015, will take place on 20 September 2024 at the company's registered office in Multan.
The board, in a meeting held on 27 August 2024 in Lahore, decided to propose the acquisition of 112 Kanal 11 Marla of freehold land adjacent to the company's Unit 1: Layyah Sugar Mills in Mandi Town, Layyah. The land, currently owned by Mr. Muhammad Shamim Khan, the Chief Executive Officer of the company, is intended for the expansion of molasses storage, bagasse storage yard, and a new sugarcane yard.
According to information available from the Pakistan Stock Exchange (PSX), the acquisition will be presented for approval as a special resolution during the EOGM. This strategic move aims to enhance the operational capabilities of the Layyah Sugar Mills.
The company has also announced that its Share Transfer Books will remain closed from 14 September 2024 until the date of the meeting, to facilitate the processing of transfers necessary for shareholders wishing to attend and vote. Transfers received at the Share Registrar office of M/s Corplink (Private) Limited in Lahore by the close of business on 13 September 2024 will be considered valid for participation in the EOGM.
Notice of the EOGM will be disseminated through PUCARS at least 21 days before the meeting, as required by corporate governance protocols.