Correction Announced in Acquisition Bid for Calcorp Limited Shares by Asif Ali Shaikh

Karachi, In a recent development, Mr. Asif Ali Shaikh has made public his intention to acquire approximately 83.96% of the shares and control of Calcorp Limited. This announcement was made in accordance with the Securities Act 2015 and was initially published in the Daily Jang and The News on February 22, 2024. Mr. Shaikh, alongside Mr. Muhammad Hanif Shaikh and Mr. Kashif Mumtaz, is leading the acquisition process.

However, a corrigendum has been issued regarding the initial Public Announcement of Intention (PAI). The correction comes after it was revealed that an error had been made in the section detailing the extent of Mr. Asif Ali Shaikh’s shareholdings in other companies. Contrary to the ‘Nil’ reported earlier, Mr. Shaikh holds more than thirty percent of the voting shares in four private limited companies. These companies, based in Karachi operate in different sectors including power, food & beverage, consultancy, and import & export. Specifically, the companies are A.R.M. Power (Private) Limited, Asif Rice Mills (Private) Limited, Corporate Solution (Private) Limited, and Universal Reach (Private) Limited, with Mr. Shaikh holding 80.0%, 33.3%, 50.0%, and 80.0% of their shares respectively.

Additionally, there has been a correction in Mr. Asif Ali Shaikh’s CNIC number listed under Clause 1(g) of the PAI. The correct CNIC number should be 42301-9048519-1, replacing the previously misprinted version.

These corrections are in compliance with Regulation 6(8) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The corrected details will be published in the Daily Jang and The News on March 14, 2024, as per the guidelines. All other information and terms outlined in the original Public Announcement of Intention remain unchanged.

For and on behalf of Mr. Asif Ali Shaikh, the corrections have been submitted to ensure transparency and adherence to regulatory requirements during the acquisition process.