JDW Sugar Mills Limited (PSX: JDWS) has approved the sale of its entire project land measuring 243 kanals and 18 marlas located at Mouza Mangowal, Tehsil Kunjah, District Gujrat.
The company authorized the disposal of the land, either in parts or as a whole, to prospective buyers, subject to completion of legal formalities, removal of any encumbrances, and resolution of any pending litigation, if applicable.
The board has empowered itself to negotiate with potential buyers, accept offers, and finalize sale transactions at the best available market price. It is also authorized to receive and utilize the sale proceeds.
To complete the transaction, the board can sign and execute all necessary agreements and sale documents, and represent the company before relevant authorities, including the SECP, land registrars, and Punjab land record offices.
The company secretary and chief financial officer have been authorized to handle compliance matters and complete all formalities related to the sale. The board may also amend the resolutions if required by regulators, without seeking further shareholder approval.