Gul Ahmed Textile Mills Limited has announced that its Board of Directors has approved the acquisition of an industrial property in the Sindh Industrial Trading Estates (SITE), Noorlabad, District Jamshoro. The decision, shared in a notice to the Pakistan Stock Exchange (PSX) on Thursday, includes the purchase of Plot No. A-44 along with the associated land, building, plant, machinery, equipment, and other assets, subject to completion of all necessary legal, regulatory, and corporate formalities.
The company stated that the Chief Executive Officer has been authorised to carry out the transaction independently. Additionally, the Chief Financial Officer and Company Secretary have been empowered to act jointly to perform all tasks and formalities required to finalise and give effect to the acquisition.
The board emphasised that the move forms part of the company’s strategic efforts to expand its operational footprint and strengthen its presence in the industrial sector. Gul Ahmed Textile has requested the PSX to circulate the information to its members in accordance with Section 96 of the Securities Act, 2015, and the exchange’s regulations.
This acquisition marks a significant step for Gul Ahmed Textile Mills, reinforcing its commitment to growth and operational efficiency while ensuring full compliance with corporate governance and regulatory requirements.