TPL REIT Fund I Unitholders Approve Reinvestment of Project Sale Proceeds into Mangrove Development

Unitholders of TPL REIT Fund I have approved a key resolution allowing the fund to reinvest proceeds from the sale of project land by TPL Technology Zone Phase I (Private) Limited (TTZ) into the development of another existing project, rather than distributing the funds through unit redemptions. According to a notice sent to the Pakistan Stock Exchange, the decision was made at a general meeting held on December 1, 2025. The resolution authorizes the management company to retain the sale proceeds from TTZ’s Project C – Technology Park and reinvest them strictly for development-related expenditures at National Management & Consultancy Services (Pvt.) Limited (NMC), which is undertaking Project A – Mangrove. The reinvestment is subject to all necessary contractual and regulatory approvals. The unitholders further authorized the management company to take all required actions, execute documents, and make regulatory filings to implement the resolution. The move is intended to support ongoing development within the fund’s portfolio, rather than using the proceeds for unrelated purposes such as land purchases or settling associated company liabilities.