Gul Ahmed Textile Mills Limited has announced that its Board of Directors (BoD) has approved the acquisition of an industrial property located in Sindh Industrial Trading Estates (SITE), Noorlabad, District Jamshoro.
In a notice to the Pakistan Stock Exchange on Thursday, the company said the board had cleared the purchase of “Plot No. A-44 together with the land, and building, plant, machinery, allied equipment, fittings, and appurtenances thereon,” subject to completion of all required legal, regulatory and corporate procedures.
The notification added that the company’s Chief Executive Officer has been authorised to execute the transaction independently, while the Chief Financial Officer and Company Secretary have been empowered to act jointly to carry out “all acts, deeds and things necessary and ancillary to give effect to the above sale transaction.”
The company requested the exchange to circulate the information to its members as required under Section 96 of the Securities Act 2015 and PSX regulations.
