Lahore: Crescent Fibres Limited has announced the proposed sale of a significant asset, marking a pivotal decision in the company's strategic operations. As disclosed in a report dated October 16, 2026, the Board of Directors has unanimously recommended the sale or transfer of the land and the building of Spinning Unit-1, located at Plot # B/123 Nooriabad S.I.T.E., District Jamshoro, Sindh. The land spans 14 acres with an associated building covering 233,270 square feet.

The decision comes in accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book, necessitating the dissemination of this material information. The Board has also resolved to convene an Extra Ordinary General Meeting (EOGM) to secure shareholder approval for the transaction, in line with section 183(3) of the Companies Act 2017.

The EOGM is scheduled for Tuesday, November 10, 2026, at 9:30 a.m. at the company's registered office located at 104-Shadman-1, Lahore. During this meeting, a special resolution will be proposed for the sale of the aforementioned property. According to information available from the Pakistan Stock Exchange (PSX), this transaction is a notable development for Crescent Fibres Limited.

Shareholders looking to participate in the meeting must ensure their shares are transferred by the closing of business on November 2, 2026, as the Share Transfer Books will be closed from November 3 to November 10, 2026, inclusive. Any transfers received in order at the office of the Share Registrar, M/s. Corplink (PVT.) Limited, Wings Arcade, 1-K, Commercial, Model Town, Lahore, by this deadline will be eligible to attend the EOGM.

This announcement complies with all statutory and regulatory requirements, reflecting the company's commitment to transparency and governance.