Karachi: Lotte Chemical Pakistan Ltd. has announced a significant development regarding the ownership of its shares. On February 20, 2025, the company disclosed material information concerning a Share Purchase Agreement entered into by its majority shareholder, Lotte Chemical Corporation ("LCC Korea"). The agreement, dated February 19, 2025, involves the sale of LCC Korea's entire stake in Lotte Chemical Pakistan Ltd. This stake comprises 1,135,860,105 shares, representing approximately 75.01% of the company's issued and paid-up capital. The purchasers are M/s. AsiaPak Investments Limited and Montage Oil DMCC.

The divestment is part of LCC Korea's broader business portfolio transformation strategy. The completion of this transaction is contingent upon obtaining all necessary regulatory and corporate approvals and meeting specific closing conditions. Lotte Chemical Pakistan Ltd. has committed to keeping the Pakistan Stock Exchange informed about any further developments in this matter.

The information, which is crucial for the stakeholders, was disclosed in compliance with Section 96 and 131 of the Securities Act, 2015, and clause 5.6.1 of PSX Regulations. The designated market category for this transaction is the material information disclosure.

According to information available from the Pakistan Stock Exchange (PSX), the transaction is significant for the company's future operations and ownership structure. The company has assured the Exchange that it will continue to provide updates as the divestment progresses.

The TRE Certificate Holders of the Exchange have been informed accordingly, ensuring transparency and adherence to regulatory requirements as the company navigates this pivotal transition.