Karachi, The Pakistan Stock Exchange (PSX) has officially approved the voluntary delisting of Johnson & Phillips (Pakistan) Limited. This decision, effective from April 17, 2024, comes under the purview of PSX Regulation No.5.14 and Section 19(5) of the Securities Act 2015.
In light of the delisting, shareholders are presented with a buy-back opportunity. Adam Securities Limited, acting as the Purchase Agent on behalf of the sponsors, will facilitate this transaction. Shareholders interested in selling their shares back to the sponsors can do so at a fixed price of PKR 160 per share. This offer remains valid until April 1, 2025, providing shareholders ample time to consider their options.
The initial buy-back period spans from January 30, 2024, to April 1, 2024, with the company set to formally cease trading on the PSX on April 8, 2024. Shareholders are encouraged to promptly engage with Adam Securities Limited to initiate the buy-back process if they wish to participate.