Johnson & Phillips Pakistan Okays Buyback Price to Delist from PSX

Johnson & Phillips (Pakistan) Limited has approved delisting from the Pakistan Stock Exchange with the buyback price set at Rs. 160 per share, the company informed the main bourse on Thursday. The Sponsors of the Company be and are hereby authorized to purchase 545,983 Ordinary Shares of the Company having a face value of Rs. 10 each at a buy-back price of Rs. 160 as determined and approved by the Voluntary Delisting Committee of the Exchange on 18th December 2023 from the shareholders other than the sponsors for delisting of the Company from the PSX, the stock filing stated. The Company will be delisted from the Exchange upon completion of all regulatory requirements as prescribed by the Exchange, the filing added. JOPP further authorized CEO Muhammad Anis Mianoor to do all acts, and deeds and take all necessary actions including completing all legal formalities and filing all documents as may be necessary to implement the aforementioned Resolutions as well as carry out any other acts which may be ancillary and/or incidental to the above