Dawood Lawrencepur Concludes Reon Energy Sale to Dubai-Based Company

Dawood Lawrencepur Limited (PSX: DLL) has transferred its entire shareholding in Reon Energy Limited (REL) to Juniper International FZ LLC, the company informed the main bourse on Tuesday. DLL’s stake comprised 102,600,000 shares constituting 100 percent of the issued and paid-up capital of REL which has been transferred to Juniper International FZ LLC on October 7, 2024, as per the terms and conditions specified under the Share Purchase Agreement dated March 22, 2023, and as approved by the shareholders of the Company at the Annual General Meeting held on May 29, 2024. The Company manages investment in its subsidiaries and associated companies and is engaged in the business of trading and marketing of renewable energy solutions, mainly solar, to commercial and industrial consumers, along with the legacy textile business.