AKD Securities announces withdrawal of PAI to acquire 90.99% control of Globe Textile Mills

MG News | April 17, 2019 at 10:13 AM GMT+05:00

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April 17, 2019 (MLN): With regards to the Public Announcement of Intention (POI) made by OBS Healthcare (Pvt.) Limited to acquire 90.99% shares and control of Globe Textile Mills Limited, AKD Securities Limited, in capacity of the Manager to the Offer, has intimated that the time period for making public announcement of offer (as extended by SECP) has lapsed while certain legal formalities for the transaction still remain outstanding.

Therefore, the SECP has given notice that as of the expiry date, the POI stands withdrawn.

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