July 13, 2022 (MLN): The acceptance period for the Public Announcement of Offer (PAO) to acquire up to 1.9677 million ordinary shares of Karam Ceramics Limited (PSX: KCL), has ended on July 07, 2022, the manager to the offer Arif Habib Limited informed on Wednesday.

The offer represents approximately 13.52% of the total issued and paid-up ordinary share capital of KCL.

AHL on May 13, 2022, on behalf of Mrs. Suraiya Nasir, Mr. Syed Mazhar All Nasir, Mr. Syed Azhar Ali Nasir, and Mr. Syed Azfar All Nasir (the acquirers) submitted PAO to acquire the aforementioned number of shares of KCL.

To recall, the acquirers had entered into a share purchase agreement dated March 4, 2022, with the sponsors of KCL for the purchase of 10,613,277 ordinary shares representing approximately 72.95% of the total issued ordinary share capital of the target company at a price of Rs20 per ordinary share.

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