Karachi: Arif Habib Limited has announced an extension in the timeline for the Public Announcement of Offer to acquire voting shares and control of Mitchells Fruit Farms Limited by CCL Holding Private Limited. This adjustment comes amidst ongoing negotiations between the involved parties.

On November 15, 2024, a Public Announcement of Intention was made regarding the acquisition of voting shares and control of Mitchells Fruit Farms Limited, identified as the Target Company. CCL Holding Private Limited, the Acquirer, is reportedly taking reasonable steps to finalize the transaction and prepare the necessary Public Announcement of Offer. However, the negotiations with the seller remain unresolved.

According to information available from the Pakistan Stock Exchange (PSX), the original deadline for submitting the Public Announcement of Offer was May 14, 2025. In light of the current circumstances, CCL Holding Private Limited has decided to extend this deadline by 90 days, in accordance with Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The new deadline for the Public Announcement of Offer is set for August 12, 2025.

This move is indicative of the Acquirer's commitment to expediting the necessary actions, as stated in communications addressed to the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange. The transaction falls under the designated market category of acquisitions involving substantial voting shares.