Karachi: JS Global Capital Limited has announced a renewed Public Announcement of Intention (PAI) on behalf of Mr. Asif Ali Shaikh, Mr. Muhammad Hanif Shaikh, and Mr. Kashif Mumtaz (collectively referred to as the "Acquirers") to acquire up to 83.96% shares of Calcorp Limited. This announcement follows the initial PAI dated February 22, 2024, and a subsequent corrigendum on March 14, 2024, with both documents previously published in The News and Daily Jung.

The initial PAI process was halted due to the expiration of the prescribed timeframe for making the Public Announcement of Offer, as extended by the Acquirers. According to information available from the Pakistan Stock Exchange (PSX), the Acquirers have expressed their intent to acquire 9,020,473 ordinary shares of Calcorp Limited, representing 83.96% of the company's total issued and paid-up capital.

The fresh PAI is subject to the necessary regulatory and other approvals, as mandated by the Securities Act, 2015, and the Listed Companies (substantial acquisition of voting shares and takeovers) Regulations, 2017. JS Global Capital Limited has been appointed as the Manager to the Offer by the Acquirers.

The renewed PAI is scheduled for publication in one English and one Urdu language daily newspaper on December 05, 2024. The Acquirers have reiterated their commitment to completing the transaction pending the receipt of requisite approvals.