Karachi: Merit Packaging Limited has announced the approval of a special resolution to sell its assets valued at 1.00 billion PKR. The decision was made during an Extraordinary General Meeting held on June 27, 2025, where shareholders consented to the disposal and sale of the company's Plant and Machinery, as well as its Goodwill associated with the Flexible Packaging Unit. The assets are located in Karachi and will be sold to Kompass Pakistan (Private) Limited.

The resolution grants the Board of Directors the authority to oversee the transaction. This includes the ability to delegate powers to the Company Secretary, Chief Financial Officer, and a Director to carry out necessary actions to implement the asset sale. This involves executing the asset sale agreement, receiving the sale consideration, and preparing necessary transfer documents.

According to information available from the Pakistan Stock Exchange (PSX), the designated market category for this transaction is the sale and disposal of tangible and intangible company assets. The sale agreement is expected to be executed with Kompass Pakistan (Private) Limited, following the best available quote from the interested party.

Additionally, the resolution authorizes the company to undertake all actions incidental to the execution of the asset sale, including modifications to the resolution that may be required by the Securities and Exchange Commission of Pakistan (SECP), without further shareholder approval. The resolution will remain effective until a written notice to the contrary is issued.