Lahore: In a significant move, Nishat Mills Limited has announced the approval of a special resolution, passed by its shareholders during an Extra Ordinary General Meeting held on September 23, 2026. The resolution permits the company to dispose of its entire shareholding in Nishat Sutas Dairy Limited, an associated company, to Stita Uriinleri A.S., a company incorporated in the Republic of Türkiye.

The meeting, which took place at The Nishat Hotel in Lahore, saw shareholders agree to the sale of 409,673,410 ordinary shares, representing approximately 49.10% of Nishat Sutas Dairy Limited's total issued and paid-up share capital. The shares are to be sold at a price of PKR 5 per share, amounting to a total transaction value of PKR 2.05 billion.

According to information available from the Pakistan Stock Exchange (PSX), this decision aligns with the requirements set forth under Regulation No. 5.6.9 of the Rule Book of Pakistan Stock Exchange Limited. This regulation necessitates the filing of a certified copy of the resolution passed by the shareholders, ensuring compliance with the financial market's statutory framework.

The resolution also authorizes the Chief Executive Officer and Company Secretary of Nishat Mills Limited to undertake all necessary actions to finalize this transaction. This includes executing requisite documents, agreements, and filing statutory forms with relevant regulatory authorities, such as the Securities and Exchange Commission of Pakistan.

This strategic move by Nishat Mills Limited marks a notable shift in its investment strategy, potentially impacting the dynamics within the dairy sector. The designated market category remains unaffected as the company moves forward with this significant financial transaction.