AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Maple Leaf Cement Factory Limited (MLCFL), a substantial shareholder in Agritech Limited, has acquired an additional five million ordinary shares in the company. The transaction, which occurred on July 11, 2024, was conducted through the Central Depository System at the Pakistan Stock Exchange (PSX) at a price of Rs. 25.3522 per share.
According to information available from the Pakistan Stock Exchange (PSX), MLCFL confirmed the acquisition in a communication to the exchange dated July 12, 2024, received via courier on July 15. This purchase further increases MLCFL’s voting shares in Agritech Limited, a transaction compliant with section 96 of the Securities Act, 2015 and clause 5.6.1 of PSX Regulations.
The transaction was formally reported to the exchange as mandated by clause 5.6.4 of the PSX Rule Book, emphasizing MLCFL’s ongoing investment in Agritech Limited. The purchase aligns with regulatory requirements and reflects MLCFL’s strategy to strengthen its position in the market.
Maple Leaf Cement’s significant acquisition involves a total of 5,000,000 shares, effectively reinforcing its substantial shareholder status within Agritech Limited. This move is part of MLCFL’s broader investment strategy, contributing to its portfolio’s growth and enhancing its influence in the sector.
Maple Leaf Cement Factory has advised the certificate holders of the PSX regarding this significant transaction, ensuring compliance with disclosure requirements under the pertinent stock exchange regulations. This strategic acquisition is anticipated to impact Agritech’s operational dynamics and shareholder structure positively.