December 31, 2024 (MLN): AKD Securities Limited (PSX: AKDSL), acting as the Manager to the Offer (MTO), submitted the Public Announcement of the Offer (PAO) to acquire up to 30.27 million ordinary shares of Nimir Resins Limited (NRSL).
The shares represent 21.42% of NRSL's issued and paid-up share capital, and the acquisition is being made on behalf of Rudolf Pakistan (Private) Limited (the 'Acquirer'), the company's filing on PSX revealed today.
The acquisition is being offered at an offer price of Rs25.85 per ordinary share.
The Acquirer has entered into a Share Purchase Agreement (SPA) dated December 26, 2024, with Zafar Mahmood, Khalid Mumtaz Qazi, Imran Afzal, Umar Iqbal, and Aamir Jamil (the "Seller"), shareholders of NRSL.
The agreement involves the sale and purchase of 30mn NRSL ordinary shares, representing 21.23% of the total issued share capital of NRSL.
The aggregate sale price is Rs750mn calculated at a rate of Rs25 per share.
Pursuant to the requirements of the Act and Regulations, the Acquirer is making a public offer to acquire 50% of the remaining Ordinary Shares of NRSL (the "Shares").
This offer is subject to a minimum acceptance level of 7.49% shares, which equals 10.6mn ordinary shares, on the terms summarized herein below (the "Public Offer").
