Karachi: In a significant development for Nimir Resins Limited, offer letters have been dispatched to its shareholders regarding a public announcement of offer to acquire up to 21.42% of shares and joint control of the company. This move is subject to a minimum acceptance level of 7.49% of shares, as per the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

Rudolf Pakistan (Private) Limited, the acquirer, has initiated this process following the submission and subsequent publication of a Public Announcement of Offer by M/s AKD Securities Limited, acting as the Manager to the Offer. The announcement was initially submitted on December 31, 2024, and published in the newspapers on January 02, 2025. The acceptance period for this acquisition offer will commence on Wednesday, February 19, 2025, and conclude on Tuesday, February 25, 2025.

A recent advertisement in the Business Recorder and Nawai Waqt on Monday, February 17, 2025, informed shareholders of the commencement of the acceptance period. Shareholders who wish to tender their shares can do so by submitting them to M/s AKD Securities Limited, located at 602, Continental Trade Center, Block-8, Clifton, Karachi, no later than 5:00 pm on the last day of the acceptance period.

According to information available from the Pakistan Stock Exchange (PSX), the designated market category for Nimir Resins Limited is poised to witness considerable activity as shareholders deliberate on the offer. Rudolf Pakistan aims to establish joint control of Nimir Resins Limited, contingent on achieving the specified minimum acceptance level.

Shareholders are advised that all transactions should be directed to the designated CDC account, with the necessary details provided to ensure a smooth process. As the acceptance period approaches, stakeholders are encouraged to review their options and take action within the stipulated timeframe.