ADOS opts for voluntary delisting from PSX

September 08, 2022 (MLN): The members of ADOS Pakistan Limited, in its extraordinary general meeting held today, have unanimously resolved to voluntarily delist the company from Pakistan Stock Exchange (PSX), the company filing on PSX showed today.

Accordingly, Mr. Zia Akbar Ansari, Mrs. Shoobarna Zia, Mr. Shehryar Akbar Ansari, Mr, Asfandyar Akbar Ansari, Mr. Bakhtiyar Akbar Ansari, Mrs. Alylin Ansari, Mrs. Aysha Masood, Mrs. Razia Akbar Ansari, Mrs. Roohi Rashid, Ms. Suboohi, Ms. Sabina Ansari and Mrs. Mobina Zahid, the majority shareholders/sponsors of the company authorized to buyback ordinary shares at a buy-back price of Rs29 per share as approved by the exchange.

This is subject to the purchase of at least 342,800 ordinary shares, 25% out of the total 1,371,200 ordinary shares outstanding with the shareholders other than majority shareholders/sponsors,  in order to qualify for delisting as approved by the  Voluntary  Delisting Committee of the Exchange.

The notification issued to PSX further stated that, on obtaining the consent of sponsors and majority shareholders for the buyback of the company’s shares by them, the board has authorized the company’s CEO or Secretary to apply for the voluntarily delisting of the company’s shares from PSX and take all necessary steps in this respect.

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