MLCF secures Pioneer Cement shares, 61% allotment applied

February 19, 2026 (MLN): Maple Leaf Cement Factory Limited's (PSX: MLCF) public offer to acquire a controlling stake in Pioneer Cement Limited was oversubscribed by a significant margin, with eligible applications received for 43,189,598 shares against an offer size of 26,623,096 shares prompting accepted shares to be allotted on a pro-rata basis at a rate of 61.64%.

The offer was managed by Next Capital Limited as Manager to the Offer.

The acceptance period ran from February 8 to February 14, 2026.

All payments to eligible shareholders were settled by February 17, 2026, via bank transfers to registered IBANs.

For shareholders without IBANs or where transfers could not be completed due to technical reasons, pay orders were issued and dispatched to shareholders' registered addresses on the same date.

Excess electronic shares were returned to respective CDC accounts on February 18, 2026.

For physical shareholders, split requests were lodged with the Target Company's share registrar on February 17, 2026, with affected shareholders to be contacted via email to collect their excess share certificates from the Manager to the Offer's office.

Ineligible shares, as determined by the eligible shareholders' list dated January 26, 2026, were similarly returned to CDC accounts by February 17, 2026.

The aforementioned information was disseminated through a notification to Exchange.

Next Capital Limited, in its capacity as Manager to the Offer, certified that Maple Leaf Cement has met all obligations under the Act and the Regulations, and confirmed that the security furnished by the Acquirer has been formally released in compliance with Regulation 16(1)(a) of the Regulations.

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