ICI to sell stake in PPTA

The ICI Pakistan Limited has decided to sell entire stakes in Pakistan PTA Ltd, (PPTA).
The ICI Pakistan Limited board of directors met in Lahore on Tuesday. The directors recommended the members that the board should be authorised to dispose of ICI Pakistan's entire shareholding in Pakistan PTA Limited (25 percent) at such times and in such lots as the board may decide having regard to the funding arrangements of the company over time and to benefit from opportunities arising out in future.
The board resolved that an extraordinary general meeting of the shareholders be convened and held on Friday, August 20 at 10.00 am at the ICI House, 5 West Wharf, Karachi.
The share transfer books of the company will remain closed from August 14 to August 20 (both days inclusive).
The notice of the meeting along with a statement of material facts as required under Section 160 (1)(b) will be sent to the shareholders 21 days before the meeting.