Sana Industries to sell investment property and machinery

Sana Industries Limited has announced plans to dispose of its investment property, including land, buildings, and machinery, subject to shareholder approval, according to a stock filing on Monday. 

The company will also sell plant and machinery, furniture, and fixtures related to its subsidiary, Sana Logistics (Private) Limited, which operates in the warehousing business.

The resolutions were passed during the Board of Directors’ meeting held on December 13, 2024. The board authorized CEO Mohammed Irfan Nawab or Chairman Ibrahim Younus to execute all necessary steps to implement the decisions.

An Extraordinary General Meeting (EGM) of shareholders is scheduled for January 7, 2025, at the company’s registered office in Karachi to seek formal approval. 

Sana Industries Limited is a publicly listed company incorporated in Pakistan on June 05, 1985, under the Companies Ordinance, 1984 (now repealed with the enactment of the Companies Act, 2017). 

The company is primarily engaged in the manufacturing and sale of man-made blended yarn.