Karachi: Maple Leaf Cement Factory Limited, through its broker Next Capital Limited, has officially declared its intention to acquire shares and take control of Agritech Limited. This move is structured under the compliance of the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

According to information available from the Pakistan Stock Exchange (PSX), the formal announcement was made on July 25, 2024, and was disseminated through the PSX's PUCARS system, marking a significant development in the cement and agricultural sectors of the market. This public declaration initiates the process whereby Maple Leaf Cement Factory Limited aims to consolidate significant control over Agritech Limited.

The notification by Next Capital Limited highlighted the strategic intentions of Maple Leaf Cement Factory Limited, emphasizing the regulatory adherence to section 96 of the Securities Act, 2015, and clause 5.6.1 of PSX Regulations. This disclosure underscores the transparency and regulatory compliance engaged by both entities involved in this acquisition.

Stakeholders and TRE Certificates Holders of the exchange have been informed as required by the regulations, ensuring all parties are updated regarding this potential significant shift in ownership and control within the Pakistani market landscape.