Sapphire Fibres transfers 11.84% stake to 4 private firms
MG News | September 08, 2025 at 05:41 PM GMT+05:00
September 08, 2025 (MLN): Sapphire Fibres Limited (PSX: SFL) has shifted 2,445,877 shares, equivalent to 11.84% of its total voting stock to four privately held companies, following a Scheme of Arrangement sanctioned by the High Court of Sindh.
The shares were previously held by Sapphire
Holding Ltd and STM Corporation (Pvt) Ltd. Each of the four transferee firms: Glitter
(Pvt) Ltd, Glory (Pvt) Ltd, Lavender (Pvt) Ltd, and Acrylic (Pvt) Ltd, received
611,470 shares, representing 2.96% of the company’s voting rights.
Share Transfer Breakdown:
|
Transferee Company |
Shares Acquired |
% of Total Voting Shares |
|
Glitter (Pvt) Ltd |
611,470 |
2.96% |
|
Glory (Pvt) Ltd |
611,470 |
2.96% |
|
Lavender (Pvt) Ltd |
611,470 |
2.96% |
|
Acrylic (Pvt) Ltd |
611,467 |
2.96% |
|
Total |
2,445,877 |
11.84% |
All four companies are sponsored by the
Abdullah family, which continues to deepen its footprint in Sapphire Fibres.
Post-transfer, each entity now holds between 9.19% and 9.43% of the company’s
voting shares.
The transaction qualifies for exemption
from takeover obligations under Part IX of the Securities Act, 2015. However,
disclosure was made under Section 109(1)(e), in line with reporting
requirements to the Pakistan Stock Exchange.
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