Karachi: Maple Leaf Cement Factory Limited (MLCF), a subsidiary of Kohinoor Textile Mills Limited, has disclosed its intention to acquire control and shares of Agritech Limited. The announcement, made on July 25, 2024, was issued by Next Capital Limited, which is serving as the manager to the offer under the regulatory framework established by 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 disclosure, complying with Section 96 of the Securities Act, 2015 and clause 5.6.1(a) of the PSX Regulations, was part of a strategic move by MLCF to expand its holdings. The public notice detailed MLCF's plan to publish their intentions in one English and one Urdu newspaper by July 29, 2024, marking a significant step in their acquisition process.

Next Capital Limited, appointed as the Manager to the Offer in line with regulation 6(1) of the Listed Companies Regulations, is orchestrating the acquisition phase. This announcement comes as a formal step in adhering to legal requirements, ensuring that all stakeholders are informed through the appropriate channels.

MLCF's intent to acquire shares and take control of Agritech Limited underscores a strategic expansion in the competitive cement and construction materials industry, leveraging both companies' market positions and operational capabilities.