Material Information of Aisha Steel Mills Limited

Material Information

Karachi, Aisha Steel Mills Limited informed Pakistan Stock Exchange that the Company and Marubeni-Itochu Steel Inc. (MIST) (Japan) have entered into a strategic alliance and have signed a Trade Development Agreement (TDA) in order to expand steel business in Pakistan. Pursuant to the TDA, it has been agreed that subject to certain conditions, ASML appoints MIST as its supplier for buying or procuring its raw material on mutual beneficial basis.

Additionally, MIST has purchased 38,276,000 Ordinary shares of Aisha Steel Mills Limited (ASL) from Arif Habib Corporation Limited (an associated company of ASML), at a price of Rs. 30/- per share, constituting approximately 4.69/, of the issued share capital of ASML”.

Aisha Steel Mills Limited was incorporated in Pakistan on May 30, 2005 as a public limited company. The company started its commercial operation in 2012 and manufacturers of Flat Rolled Steel – Cold Rolled and Hot Dipped Galvanized coils located in Port Qasim, Karachi, Cold Rolling and Hot dipped Galvanized Rolling Complex with name plate capacity of 700,000 metric tons.

The total number of shares the company has issued are 765,529,303. Earning Per Share has decreased in 2020 and is (0.89) compared to 0.26 in 2019. The Profit After Taxation has decreased in 2020 and is (616,573,000) which was 253,698,000 in 2019.