JDW Sugar Mills Approves Gujrat Land Sale
JDW Sugar Mills Limited (PSX: JDWS) has officially approved a significant JDW Sugar Mills Sale of its extensive project land. This property, spanning 243 kanals and 18 marlas, is situated in Mouza Mangowal, Tehsil Kunjah, District Gujrat. This strategic move marks a pivotal development for the company’s asset management in the region.
Furthermore, the board has granted authorization for the land’s disposal, allowing sales either in parts or as a complete package to potential buyers. Consequently, this transaction is contingent upon the meticulous completion of all legal formalities, the removal of any existing encumbrances, and the resolution of any pending litigation that may apply. The company aims for a smooth and transparent sales process, ensuring due diligence at every step.
Key Decisions on JDW Property Disposal
The board has empowered itself to actively negotiate with interested parties. It can accept competitive offers and ultimately finalize these sale transactions at the most advantageous market price available. Moreover, the board is fully authorized to receive and strategically utilize the proceeds generated from this Gujrat property sale.
To ensure the successful completion of this substantial transaction, the board possesses the authority to sign and execute all essential agreements and sale documents. In addition, it can represent the company before various pertinent authorities. This includes the SECP, local land registrars, and the Punjab land record offices, streamlining the entire process effectively.
Subsequently, the company secretary and chief financial officer have been officially mandated to manage all compliance-related matters. They will complete every formality associated with the JDW Sugar Mills Sale. Interestingly, the board retains the flexibility to amend these resolutions if regulatory bodies require, without necessitating further shareholder approval. This ensures adaptability and adherence to guidelines.
