AEL receives PAI from Automotive Plastics to acquire 51% shares

MG News | November 23, 2021 at 05:28 PM GMT+05:00

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November 23, 2021 (MLN): Arshad Energy Limited (AEL) has received a public announcement of intention (PAI) from Automotive Plastics (Private) Limited to potentially acquire above 51% shares of the company, together with management control, being beyond the thresholds prescribed under Section 111 of the Securities Act, 2015, the company notified to PSX on Tuesday.

Integrated Equities Limited, has been appointed as manager to offer by Automotive Plastics (Acquirer), in accordance with the provisions of the Act and the Regulations.

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