Karachi: Internet Securities Limited has confirmed the fulfillment of obligations by Meskay & Femtee Private Limited in the acquisition of 7,356,648 ordinary shares of Mandviwalla Mauser Plastic Industries Limited. This acquisition, representing 25.59% of the total issued and paid-up capital of the Target Company, marks a significant step in the business operations of the Acquirer.

The Public Announcement of Intention related to this Transaction was initially published on June 13, 2024, in the Express Tribune and Daily Express newspapers. Following this, the Acquirer made a Public Announcement of Offer on February 6, 2025, which was disseminated through the Pakistan Observer and Roznama Dunya newspapers. This move was conducted in line with the Securities Act 2015 and the Listed Companies (Substantial Acquisition of voting shares and Takeovers) Regulations, 2017.

According to information available from the Pakistan Stock Exchange (PSX), the share acceptance period for the Public Offer concluded in April 2025. The Acquirer adhered to the Takeover Regulations by completing all requisite formalities, including the dispatch of payment to shareholders within ten days of the acceptance period's closure.

Intermarket Securities Limited, in its role as the Manager to the Offer, has confirmed that all obligations under the Takeover Regulations have been met. Payments have been dispatched to all shareholders who tendered their shares during this Public Offer, finalizing the acquisition process.