Sheikhupura: Nazir Cotton Mills Ltd. has announced a significant decision regarding its infrastructure on February 5, 2025. The Board of Directors has resolved to sell off the company”s dilapidated building located at 8-KM Faisalabad Road, Aslarnabad, Khaareyanwala, Sheikhupura. This move is subject to the approval of the shareholders, as required under the relevant legal frameworks.

The decision aligns with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange (PSX) Regulations. The company emphasized the necessity of this action to address the state of the building, which no longer meets the operational requirements or safety standards necessary for continued use.

According to information available from the Pakistan Stock Exchange (PSX), the disposal of the building will be a key agenda in the upcoming Extraordinary General Meeting (EOGM) planned by the company. Details regarding the meeting will be communicated to shareholders in due course, ensuring that all legal and regulatory obligations are met transparently.

Nazir Cotton Mills Ltd., a prominent entity in the textile sector, operates under the designated market category of the Pakistan Stock Exchange. The sale of this property is part of a broader strategy to optimize assets and potentially reinvest in more viable projects that align with the company”s long-term goals.

Shareholders and stakeholders are advised to stay tuned for further updates regarding the EOGM and the implications of this property disposal on the company”s future operations.