Karachi: A Public Announcement of Intention (PAI) has been submitted by Asif Ali Shaikh, in concert with Muhammad Hanif Shaikh and Kashif Mumtaz, to acquire up to 83.96% of the shares of Calcorp Ltd, as detailed in a notice issued on December 3, 2024. The announcement follows a previous notice of withdrawal due to the lapse of the prescribed time period for making the Public Announcement of Offer.

According to information available from the Pakistan Stock Exchange (PSX), the Acquirers, represented by JS Global Capital Limited as the Manager to the Offer, intend to purchase 9,020,473 ordinary shares of Calcorp Ltd. This acquisition is subject to regulatory and other necessary approvals.

The initial PAI was made on February 22, 2024, and was published in The News and Daily Jung. A subsequent corrigendum was issued on March 14, 2024. Following the lapse of the announcement period, a Notice of Withdrawal was published on November 17, 2024.

A fresh PAI has been submitted and will be published in one English and one Urdu language daily newspaper on December 5, 2024. The Acquirers remain committed to completing the transaction, pending the receipt of required approvals.