Karachi, K-Electric Limited ("KE") has received a Public Announcement of Intention (PAI) from Arif Habib Limited, acting as the "Manager to the Offer" on behalf of Shanghai Electric Power Company Limited (the "Acquirer"), expressing the intention to acquire up to 66.40% of the voting shares of KE. The PAI was notified to the Board of Directors of KE on July 21, 2023, and is subject to obtaining regulatory and other necessary approvals. A copy of the PAI and disclosure form has been enclosed.

Under regulation 5(1) of the Takeover Regulations, 2017, Pakistan Stock Exchange has been requested to promptly disseminate this information to the shareholders of KE by displaying it on the notice board and through notifications on the automated information system, along with an official announcement on the exchange's platform.

This potential acquisition by Shanghai Electric Power Company Limited could have significant implications for K-Electric Limited and the broader energy sector in Pakistan, pending the successful completion of the regulatory approval process.