Agritech Limited’s announcement of 90 day extension granted to Ashmore Global Special Situations Fund

Karachi: On behalf of our client, Ashmore Global Special Situations Fund 5, LLP and / or other funds managed or advised by Ashmore Investment Management Limited, we Next Capital Limited, as ‘Managers to the Offer’, would like to inform you that our client has been granted a 90 day extension by the SECP to submit a ‘Public Announcement of Offer’ to acquire the above captioned shareholding in Agritech Limited (AGL). For your reference, we have included with this letter a copy SECP’s approval granting the extension.

Request for extension of 90 day extension granted to Ashmore Global Special Situations Fund 5, L,P and/or other funds managed or advised by Ashmore Investment Management Limited to make its ‘Public Announcement of Offer for the Acquisition of 79.87% shares and control of Agritech Limited’ as required under ‘Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Regulations, 2008’.

This is with reference in your application dated June 10, 2011 regarding the subject matter. In this connection, I am directed to inform you that considering the circumstances explained in your above referred application requisite extension of 90 days for making public announcement of offer has been granted. You are, therefore, required to make public announcement of offer on or before Sep 11, 2011.

For more information, contact:
Najam Ali
Chief Executive Officer
Agritech Limited
8TH Floor Horizon Tower,
Plot # 2/6, Block III,
Clifton, Karachi, Pakistan
UAN: +9221 111-639-825
Fax: +9221 35292621
Web: www.nextcapital.com.pk