Merit Packaging Limited sells land and factory building to SIZA Services

Merit Packaging Limited, a well-known company in Pakistan specializing in printing and packaging materials, recently completed the sale of its land and factory building to SIZA Services (Private) Limited, a related entity. This transaction was disclosed to the Pakistan Stock Exchange in accordance with the Securities Act, 2015, and PSX Regulations. Shareholders gave their approval during an Extraordinary General Meeting held on February 15, 2024.

The sale is expected to benefit Merit Packaging by reducing its finance costs, which is a strategic move aimed at improving the company's financial position and creating opportunities for future growth.

SIZA Services (Private) Limited, an existing shareholder of Merit Packaging Limited, now owns 48,391,907 shares in the company. Merit Packaging has informed the TRE Certificate Holders of the Exchange about the successful completion of the transaction.

Established on January 28, 1980, Merit Packaging Limited has been a key player in the printing and packaging industry in Pakistan, providing high-quality products to its customers.

The sale of its land and factory building marks a significant development for Merit Packaging Limited, positioning the company for improved financial performance and future growth. This strategic decision reflects the company's commitment to enhancing its profitability and creating value for its shareholders and stakeholders.