Lahore: In a strategic move aimed at optimizing asset utilization and enhancing shareholder value, the Board of Directors of Ghazi Fabrics International Limited has approved the sale of a substantial piece of land. The decision was made during a board meeting held on May 12, 2025, according to the company's disclosure under Section 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.

The property, measuring approximately 175 Kanal 10 Marla, is situated at Mohal Chak No 66 (Dina Nath), Tehsil Pattoki, District Kasur. The approval is part of the company’s strategy to optimize its assets. However, the final approval remains contingent upon the consent of the shareholders, as required under Section 183(3)(a) of the Companies Act, 2017.

According to information available from the Pakistan Stock Exchange (PSX), further details regarding the transaction, including the identity of the buyer, the sale consideration, and the mode of payment, will be announced once the transaction is finalized in compliance with relevant laws and regulatory requirements.

An Extraordinary General Meeting (EOGM) has been scheduled for June 2025 at the company's registered office in Lahore to address this matter further. The notice for the EOGM, set to occur on June 4, 2025, will be communicated in due course.