CFL/PSX/ June 2, 2026
The General Manag er
Pakistan Stock Exchange Limited
Stock Exchange Building, Stock Exchange Road Karachi
SUBJECT: EXTRACT OF RESOLUTION PASSED BY THE SHAREHOLDERS IN EXTRA ORDINARY GENERAL MEETING HELD ON 2ND JUNE, 2026.
Dear sir,
As required under rule 5.6.9(b) of the Pakistan Stock Exchange Rules. the following resolution was passed by the shareholders in Extra Ordinary General Meeting held on 2 June, 2026 and the same have been adopted and become effective
SI'ECI A k l3USINESS
Ap{r oved the sale and disposal of' the entire plant, machincry, equipment, stores. and alicillarics of Spiniiing theit- I of thc Company located at Nooi iabad, S.I.'RE. Distr ict Jarrislioro, Sindh (thc "Said Assets"), by passing the lollowing resolution as a special rcsolut ion under Section 183(3)(a) of the Companics Act, 2017 (thc "Act"):
licsolvcd That:llic approval of' Hoc rnembers of' Crcsccnt fibres Limited (the "Company") bc and is hereby ‹recorded. in icrms of Sect ion 183(3)(a) of the Act, lo' the disposal of the Said Assets, subject to receipt of' no-object ion cert ilicatcs morn the lcndcl s/iinancial iinst itut ions in whose favour any 1icn or charge over the Said Assets is currently rc3istcrcd.
I'u rtlicr ltcsolvcd That:
the Coinpany be and is hcrcby authorised and empowered to sell the Said A SSCIS, ilnd to delegate aliy or all of' its powers in this i cgard to Mi'. 1mran Maqbool, Chicf Exccut ive OI freer, and Mr. I linnayiin May bool, l9ircctor, on such terms and condiiions as they may deem fit, to act on behalf of the Coinpany in can ying out and pcrloi ir in3 all acts, matters, Hiin3s and deeds ncccssary to implement and 3ive effect io Hic sale of the Said A sscts ‹ind the iiiilis‹it ion of' thc proceeds thereof, inclnding the follow in :
conducting negot iations with prospective buyers in such manner and on such terms as are in the best interests of the Company and its members and which secure ti ie best available market price for the Said Assets, including by way of advertised tender, sealed bidding or negotiated sale;
engaging the lenders/financial institutions for the vacation of any lien/charge registered against the Said Assets and entering into such inter-creditor or release arrangements as may be required for that purpose;
executing an agreement to sell, sale agreement, conveyance, indemnity and any ancillary documents in favour of the buyer(s) and receiving the sale consideration;
applying the proceeds of sale, towards: (i) repayment of the Company's outstanding financial indebtedness (ii) capital expenditure on the balancing, modernisation and replacement (BMR) and solar-installation at Spinning Unit-2 (iii) the balance, if any, will be invested towards working capital;
generally performing and executing, in respect of the sale of the Said Assets, all lawful agreements, acts and things as they may think fit and proper in order to implement and complete the sale.
FOR CRESCENT FIBRES LIMITED
Company Secretary
Crescent Fibres Limited
104 Shadman 1, Lahore 54000 Pakistan
t +92 (42) 35960871-4 Lines
f. +92 (42) 35960004
e www crescentfibres.com