Calcorp Limited has announced a significant change in its shareholding structure as Optimus Limited confirmed the sale of an 83.96% stake in Calcorp to a consortium comprising Asif Ali Sheikh, Muhammad Hanif, and Kashif Mumtaz.
Calcorp shared this development with the Pakistan Stock Exchange (PSX) through a notice on Wednesday in continuation of its earlier disclosure dated February 21, 2024, and under the requirements of Sections 96 and 131 of the Securities Act 2015 and Clause 5.6.1 of the PSX Rules.
The transaction, involving 9,020,473 shares, was formalized through a Share Purchase Agreement (SPA) executed on October 15, 2024.
“On October 15, 2024, Optimus Limited informed the Company that a consortium of three individuals, namely, Mr. Asif Ali Sheikh, Mr. Muhammad Hanif, and Mr. Kashif Mumtaz (“Acquirors”) executed a Share Purchase Agreement on 15 October 2024 for the sale of Optimus Limited’s entire shareholding in the Company, comprising of 9,020,473 shares which represent 83.96% of the issued share capital of the Company (the Transaction),” read the notice.
The completion of this deal is contingent upon the consortium making a public offer and obtaining necessary regulatory approvals, along with fulfilling other closing requirements.
Calcorp Limited (formerly Capital Assets Leasing Corporation Limited) was incorporated on April 1, 1992 as a public limited company. The Company’s principal line of business is making investments in a range of marketable securities, intellectual property and other assets plied for hire.
