Karachi, July 2, 2026 — Azgard Nine Limited has announced a further extension in the sale process of its Muzaffargarh Unit after the Honourable Lahore High Court granted Agent Banks the authority to take legal action against the bidder, including terminating the existing bid and inviting fresh offers.
In a material information notice submitted to the Pakistan Stock Exchange (PSX), the company said the development is part of the ongoing Creditors’ Scheme of Arrangement and the planned disposal of its Muzaffargarh Unit. The latest court order provides Agent Banks with the flexibility to pursue all available legal remedies against the bidder under applicable laws.
As a result of the court’s decision, the Agent Banks have decided to extend the deadline for completing the sale process until December 31, 2026. The extension is intended to facilitate a transparent process, including the possibility of inviting fresh bids should the existing bid be terminated.
Azgard Nine noted that the announcement follows a series of previous disclosures made to the market regarding the Scheme of Arrangement and the proposed sale of the Muzaffargarh Unit. The company has kept investors informed of developments as the restructuring process has progressed over the past several years.
The company emphasized that the disclosure has been made in compliance with Section 96 of the Securities Act, 2015 and the PSX Rule Book, ensuring that shareholders and market participants remain updated on this significant development.
The extension provides additional time for the Agent Banks to complete the sale process while safeguarding the interests of creditors under the court-supervised restructuring framework. Market participants are expected to monitor future developments closely as the revised deadline approaches.
