Karachi: Agritech Limited, a key player in the agricultural sector, has been approached by Maple Leaf Cement Factory Limited with a proposal to acquire shares and take control of the company. This move could potentially shift the balance of power in the industry, as stated by Next Capital Limited, the Manager to the Offer.
According to information available from the Pakistan Stock Exchange (PSX), the notice of this acquisition intent was communicated to Agritech's Board of Directors on July 26, 2024. The proposal goes beyond the thresholds set by Section 111 of the Securities Act, 2015, indicating a significant acquisition.
The Pakistan Stock Exchange has been requested to disseminate this information swiftly to Agritech’s shareholders. This will be done by posting on the notice board and notifications via the automated information system, complying with Regulation 5(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.