Crescent Fibres Limited has announced a proposed sale of 14 acres of land and the associated building at its Spinning Unit-1 in Nooriabad, Sindh, subject to approval by shareholders. The company disclosed the development to the Pakistan Stock Exchange (PSX) on October 16, 2026, in accordance with applicable securities regulations.
According to the company’s disclosure, the Board of Directors unanimously recommended the sale or transfer of the property during its meeting held on October 16, 2026. The property is located at Plot No. B/123, Nooriabad S.I.T.E., District Jamshoro, Sindh, and comprises 14 acres of land and a building measuring approximately 233,270 square feet.
Shareholders’ Approval Sought
Crescent Fibres Limited has recommended convening an Extraordinary General Meeting (EOGM) to obtain shareholders’ approval for the proposed transaction. The meeting is scheduled for Tuesday, November 10, 2026, at 9:30 a.m. at the company’s registered office, located at 104-Shadman-1, Lahore.
Shareholders will consider a special resolution regarding the proposed sale of the land and building. The transaction remains subject to the required approval, and the announcement does not specify the sale price or the identity of a potential buyer.
Share Transfer Books to Remain Closed
The company has also announced the closure of its share transfer books from November 3 through November 10, 2026, with both dates inclusive. Transfers received at the office of the company’s share registrar, Corplink (Pvt.) Limited, Wings Arcade, 1-K Commercial, Model Town, Lahore, by the close of business on November 2, 2026, will be considered for determining eligibility to attend the meeting.
Disclosure to the Pakistan Stock Exchange
The announcement was issued to the Pakistan Stock Exchange under Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book. The company requested the exchange to disseminate the information to market participants and TRE Certificate Holders.
The proposed disposal represents a significant corporate development involving one of Crescent Fibres Limited’s industrial properties. However, the financial implications for the company cannot be assessed from the announcement alone, as details regarding the transaction value, the intended use of proceeds and the expected impact on future operations have not been disclosed.
Investors and shareholders will be able to consider the proposal and vote on the special resolution at the scheduled Extraordinary General Meeting on November 10, 2026.
