KARACHI: Merit Packaging Limited (PSX: MERIT) has announced plans to dispose of its flexible packaging unit, including plant, machinery, and goodwill, located in Korangi Industrial Township, Karachi.
According to a stock filing on Wednesday, the board has approved the sale of these assets to an independent third party, pending shareholder approval.
To facilitate this, an Extraordinary General Meeting (EOGM) has been scheduled for Friday, June 27, 2025, at 3:30 p.m. in Karachi. The company has also announced that its share transfer books will remain closed from June 20 to June 27, 2025.
Transfers received by the share registrar, FAMCO Shares Registration Services (Private) Limited, by the close of business on June 19 will be treated as timely for the purpose of participating in the EOGM.
This proposed asset disposal follows multiple expressions of interest received by Merit Packaging over the past several months and marks a potential strategic shift in the company’s operational focus.
