Karachi, Maple Leaf Cement Factory Limited has officially announced the completion of the buy-back period for its shares, according to a recent disclosure to the Pakistan Stock Exchange. The company shared copies of advertisements published on April 17, 2024, in The Business Recorder and Nawa-e-Waqt, which signaled the end of the buy-back period.
Maple Leaf Cement reported the buy-back of 25,783,624 shares, constituting 2.40% of its issued and paid-up capital, during the purchase period. This activity was part of a larger approval to buy back up to 100,000,000 issued ordinary shares. The shares were bought back at the current market price through the Pakistan Stock Exchange and will be cancelled as per applicable regulations and members' approval.
The company had previously communicated the closure of the buy-back period, which ended on April 15, 2024, following a special resolution passed during the Annual General Meeting on October 19, 2023.