Karachi: Sapphire Textile Mills Limited has announced its entry into agreements for the acquisition of a minority shareholding in RTS Textiles Group Limited, a company incorporated and registered in England and Wales. The announcement was made on March 25, 2025, as part of a disclosure of material information in accordance with sections 96 and 131 of the Securities Act, 2015, and clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited.

RTS Textiles Group specializes in the manufacture and sale of work wear fabrics on a global scale. The agreement allows Sapphire Textile Mills Limited to acquire shares of RTS Textiles Group either directly or through a subsidiary. Completion of the transaction is contingent upon obtaining the necessary corporate and regulatory approvals.

According to information available from the Pakistan Stock Exchange (PSX), the strategic partnership is expected to bring synergies in manufacturing, marketing, and research and development. The collaboration aims to deliver enhanced value to customers and is anticipated to boost exports from Pakistan.

A disclosure form detailing the transaction has been attached with the announcement as Annexure "A". The Pakistan Stock Exchange has been informed to communicate this development to the TRE Certificate Holder of the Exchange.