Lahore, September 13, 2013 (PPI-OT): The majority shareholders of Unilever Pakistan Limited have applied for voluntary de-listing of the Company through buy-back of shares from the minority shareholders. The proposed buy-back transaction by the Company has been approved by the Listing Committee (LC) of the Lahore Stock Exchange at a price of Rs. 15,000/- per share subject to purchase of at least 199,400 ordinary shares out of the total 3,312,452 shares, outstanding with the shareholders other than sponsors, to qualify for delisting. After de-listing of Unilever Pakistan Limited from the Lahore Stock Exchange total listed companies will remain 438.
The purchase agent of the Company, i.e. KASB Securities Ltd., has purchased 2,912,328 shares within a period of 60 days as per condition imposed by the Exchange. The Company has also complied with the procedure for voluntary de-listing under Listing Regulation No. 30-C of LSE.
In view of the above, the Exchange has decided to de-list Unilever Pakistan Ltd. from the Ready Board Quotation of LSE w.e.f. September 13, 2013. The shareholders of the Company who could not avail the opportunity earlier and desire to sale the shares are requested to approach the purchase agent, KASB Securities Ltd., 5th Floor, Trade Centre, I.I. Chundrigar Road, Karachi, Phone: 021-111-222-000, Fax: 021-32630202
Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry congratulated the management/stakeholders of the Company on completing the successfully buy-back process of voluntary de-listing of the Company.
MD also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. Lahore Stock Exchange is a fully electronic and completely automated stock exchange of Pakistan that is the only domestic exchange to have more than one trading floors in the region.
For more information, contact:
Lahore Stock Exchange (LSE)
P.O. Box: 1315,
Tel: +9242 636 8000
FAX: +9242 636 484 -85
E-mail Address: info@LahoreStock.com
Web Site: http://www.lse.com.pk
Category: General Business News