Karachi: Attock Cement Pakistan Ltd. has successfully completed the final tranche of payment against the sale of its shareholding in Saqr Al Keetan for Cement Production Company Limited (SAKCPCL). The company confirmed today, August 16, 2024, the receipt of US$ 5,850,000 as the final consideration for the sale of the remaining 4,500,000 shares in SAKCPCL.

According to information available from the Pakistan Stock Exchange (PSX), the process, executed under the terms of the Share Purchase Agreement and the prevailing laws of the Islamic Republic of Iraq, signifies the conclusion of a significant transaction for Attock Cement Pakistan. The company initially disclosed the receipt of the third tranche of payment for these shares on an earlier date, leading to this final installment.

Attock Cement Pakistan is now initiating the process of transferring these final 4,500,000 shares to the buyer, marking the completion of the agreement stipulated under Section 96 and Section 131 of the Securities Act, 2015, and Clause No. 5.6.1(a) of the PSX Regulations.

The completion of this transaction is notable in the context of the company’s strategic realignment of its investment portfolio. The certificate holders of the PSX have been informed about this update, ensuring transparency and adherence to regulatory requirements.