PIAHCLA approves 75% divestment of PIACL
MG News | April 06, 2026 at 02:34 PM GMT+05:00
April 6, 2026 (MLN): PIA Holding Company Limited’s (PSX:PIAHCLA) shareholders
approved the divestment of 75% of the issued and paid-up share capital of
Pakistan International Airlines Corporation Limited (PIACL) to PIA Equity
Limited, at an Extraordinary General Meeting.
The divestment will be carried out through a combination of
direct share transfer and dilution of the company's shareholding via
subscription of shares in PIACL by PIA Equity Limited, in accordance with the
Transaction Documents under Section 183(3) of the Act.
Shareholders also gave the green light to the potential
future sale of the remaining 25% stake should PIA Equity Limited exercise its
call option under Clause 15.2 of the Share Purchase and Subscription Agreement
(SPSA).
Upon valid exercise of the option and satisfaction of
applicable conditions, the company would be obligated to transfer the residual
shareholding to PIA Equity Limited.
The Chief Executive Officer and Company Secretary have been
authorized to finalize, execute and deliver all agreements, documents and
instruments required to complete the transaction.
The aforementioned information was disseminated
through a notification to Exchange.
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