Shareholders of Nishat (Chunian) Limited have approved the voluntary winding up of its wholly owned subsidiary, Nishat Chunian Properties (Private) Limited, while authorising the sale of a prime land asset in Lahore, marking a significant corporate restructuring move subject to regulatory approvals. The resolutions were passed at an Extraordinary General Meeting (EGM) held on June 29, 2026, at the company's registered office in 31-Q, Gulberg-II, Lahore. The approvals were granted under Sections 347(b), 183(3)(b), 199 and other applicable provisions of the Companies Act, 2017, subject to the requisite approvals. As part of the restructuring, shareholders also approved the disposal and sale of a freehold property measuring 8 kanals, 7 marlas and 155 square feet, located in Block-K, Gulberg-II, Lahore. According to the resolutions, the land will be distributed to Nishat (Chunian) Limited following the liquidation or voluntary winding up of Nishat Chunian Properties (Private) Limited. Approval for the transacti on was granted under Section 183(3)(a) of the Companies Act, 2017. The company's Board of Directors has been authorised to negotiate, finalise and complete the sale of the property on terms it considers appropriate and in the best interests of the company and its shareholders, including obtaining the best available market price. The board has also been empowered to delegate its authority relating to the transaction to the Chief Executive Officer or any other authorised person. The designated representative may negotiate with prospective buyers, obtain offers, execute agreements, sign relevant documentation and undertake all necessary steps to complete the transaction. In addition, the company's Chief Executive Officer, Chief Financial Officer and Company Secretary have been authorised, individually or jointly, to implement the approved resolutions. Their responsibilities include filing the required forms and applications with the Securities and Exchange Commission of Pakistan (SECP). The resolutions further state that any amendments, modifications, additions or deletions required or directed by the SECP will automatically be incorporated without requiring fresh approval from the company's shareholders, allowing the restructuring process to proceed in line with regulatory requirements.