Maple Leaf Cement Factory Limited (MLCFL) has successfully fulfilled its obligations under the Public Offer for acquiring a total of 1,484,912 out of 160,762,209 ordinary shares of Agritech Limited.
Next Capital was the Manager of the Offer for this transaction.
According to a filing by the Next Capital at the Pakistan Stock Exchange (PSX) on Wednesday, the Acceptance Period for the offer, which commenced on December 29, 2024, and concluded on January 4, 2025, saw a total of 1,484,912 shares tendered with complete and valid documentation. All tendered shares were accepted in compliance with the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
“We are pleased to inform you that the Acceptance Period commenced on December 29, 2024, and concluded on January 4, 2025. During this period, applications for a total of 1,484,912 ordinary shares, accompanied by complete and valid documentation, were received against the offer size of 160,762,209 ordinary shares. Therefore, in accordance with the Act and the procedures outlined in the Public Offer, all tendered shares have been accepted,” read the notice.
The acquirer confirmed that all payments for accepted shares were completed by January 7, 2025. Payments were made via RTGS transfers to IBANs provided by the eligible shareholders or through pay orders for smaller amounts, which were deposited into shareholders’ accounts.
As per Section 119(3) of the Act, the Manager to the Offer certified that all obligations related to the Public Offer were fulfilled by January 7, 2025. Following this, the security furnished by the acquirer will be released in accordance with the regulations.
