Material Information of Escorts Investment Bank Limited

Karachi, Escorts Investment Bank Limited informed Pakistan Stock Exchange that the Company has received a notice of Public announcement of intention from M. Munir M. Ahmed Khanani Securitizes Limited, who are acting as Manager to the Offer on behalf of Mr. Syed Sabur Rehman (Chairman, Progressive Group) and M/S J.R Dallas Wealth Management.

Escorts Investment Bank Limited was incorporated in Pakistan on 15 May 1995 and is regulated and supervised by the Securities and Exchange Commission of Pakistan and is listed on the Pakistan Stock Exchange.

The Company is licensed to carry out investment finance services, as a Non-Banking Finance Company and Nonbanking Finance Companies. The Company is a subsidiary of Bahria Town (Private) Limited.

The total numbers of shares are 135,600,000. The Earnings per share is (0.24) in 2020 which was (1.14) in 20219. The Company had a loss of Rs. 29,910,000 in 202 which was 50,296,000 in 2019.