Wyeth Pakistan Ltd to be delisted from PSX under Voluntary Delisting Regulations

MG News | May 18, 2021 at 05:15 PM GMT+05:00

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May 18, 2021 (MLN): The Board of Directors of Wyeth LLC, USA (currently holding 40.55% of the shareholding in Wyeth Pakistan Limited) have resolved that the company is considering purchase of the outstanding securities and shares of Wyeth Pakistan Limited presently listed at the Pakistan Stock Exchange, in accordance with clause 5.14.1 of the PSX Regulations.

A notification issued to the PSX divulged that Wyeth LLC were considering purchasing all outstanding securities and shares of Wyeth Pakistan Limited, barring those held by Wyeth Holdings LLC, previously Wyeth Holdings Corporation, U.S.A., being an affiliate of Wyeth LLC, (who will continue to hold securities and shares in the de-listed entity), from all minority security holders with the purpose to increase ownership and de-list the company, the notification said.

The BODs also requested Wyeth Pakistan Ltd to call a board meeting in accordance with the PSX Regulations and correspondence manual consider delisting of the company.

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