Shield Corporation Limited has approved the sale of its investment property located in P.E.C.H.S., Karachi, to PharmEvo Private Limited, a related party.
The decision was made during a Board of Directors meeting held on October 22, 2024, the company has informed the Pakistan Stock Exchange (PSX) and relevant stakeholders regarding this significant related-party transaction.
The property, classified as an “investment property” in the company’s June 30, 2024, financial statements, is being sold pending completion of all necessary formalities, approvals, and consents.
The Chief Executive Officer and Executive Director of Shield Corporation have been authorized to finalize and execute all required sale documents and agreements related to the transaction.
Shield Corporation is mainly engaged in the manufacturing, trading and sales of oral care and baby care products.
