Acceptance period for acquisition of J&P shares ends as company looks to dispatch payment by Oct 3rd

September 30, 2019 (MLN): Johnson and Phillips (Pakistan) Limited has issued a notification to Pakistan Stock Exchange, informing that the acceptance period for the acquisition of 1,097,718 shares of the company ended on September 23, 2019.

This announcement was made with reference to the Public Announcement of Offer made by Mr. Muhammad Anis Mianoor on July 31, 2019 to acquire the above mentioned number of shares of the Company. The company further stated that it received complete applications for a total of 1,135,922 shares against an offer size of 1,097,718 shares.

The company has therefore accepted all shares from such shareholders who tendered 500 shares or less and applied a pro rata ratio of 96.60% on shares tendered by the remaining shareholders, ensuring that shares acquired from a single shareholder after prorating were not less than 500.

“The balance shares of each applicant will be returned within three working days to the same CDS account form where they were transferred to the Manager to the Offer Account” the notice said.

“Only one applicant submitted verified physical shares which have been accepted in full and no physical shares are required to be split” it added.

 Furthermore, the notification informed that the payment against all the accepted shares will be dispatched to the shareholders’ respective addresses latest by October 3, 2019.

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