Karachi, Arshad Energy Limited informed Pakistan Stock Exchange that Integrated Equities Limited, have been appointed as Manager to offer by Automotive plastics {private) Limited (the “acquirer”], in accordance with the provisions of the Act and the Regulations.

On behalf of the acquirer, they are pleased to submit a public Announcement of Intention to acquire more than 51% shareholding of the Company together with management control thereof.

Arshad Energy Limited is a public limited company incorporated in Pakistan on 20 February 1994. The Company is engaged in the business of generation and distribution of electricity through furnace fired power station having gross capacity of 12 MW in Tehsil Jaranwala, District Faisalabad, and Punjab, Pakistan.

The total numbers of shares are 8,000,000. The Earnings per share is (3.23) in 2020 which was (1.96) in 2019. The Company had a loss of Rs. 25,859,000 in 2020 which was 15,684,000 in 2019.