Azgard Nine Limited Announces Extension of Sale Transaction Completion Date for Muzaffargarh Unit

Karachi, Azgard Nine Limited, a leading textile company, has provided an update on the completion of the sale transaction related to its Muzaffargarh Unit, including all plant, equipment, and installments. In accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book of the Exchange, the company has conveyed important information regarding the ongoing Creditors’ Scheme of Arrangement.

Following previous communications, Azgard Nine Limited has informed that the Agent Banks of the Creditors, duly authorized under the Creditors’ Scheme of Arrangement, have extended the date for completing the sale transaction. The extension has been granted due to certain unavoidable circumstances that have arisen during the process.

The new completion date for the sale transaction has been extended until September 30, 2023. This extension will allow all parties involved to address any outstanding matters and ensure a smooth and successful transaction.

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