MLCF Submits Intention to Acquire 38% of Agritech

Maple Leaf Cement Factory Limited (PSX: MLCF) has submitted a Public Announcement of Offer through a Competitive Bid (PAO-CB) to acquire 160,762,209 ordinary shares (37.86% of the issued and paid-up ordinary shares capital) and control of Agritech Limited.  The PAO-CB for the acquisition is at a price of Rs. 39.00 per share, according to a notice issued the Pakistan Stock Exchange (PSX) by the company.  The PAO-CB has been made under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.   The PAO-CB constitutes a competitive bid by MLCF in relation to the public announcement of an offer by Fauji Fertilizer Company Limited (FFC) on October 25, 2024.   FFC’s public offer aims to acquire up to 151,052,013 ordinary shares at a price of PKR 38.84 per share. In response, this PAO-CB by MLCF is being made at both a higher price and for a larger number of shares in compliance with section 120 of the Act.