April 20, 2020 (MLN): ICI Omricron B.V., the majority shareholder of Akzo Nobel Pakistan Limited has decided to purchase all the shares of the company held by others.
In this respect, the set-out terms, conditions and procedures for the purchase of the shares of the company by ICI Omricron B.V are listed below:
ICI Omicron B.V is offering to buy the shares of the Company at a price of Rs. 270 per share. This purchase price has also been approved by the Pakistan Stock Exchange Limited in accordance with its Regulations.
The share purchase offer will be valid from 20 April 2020 to 18 June both days inclusive. After this period, it is intended that the Company will be delisted from the Pakistan Stock Exchange Limited.
This offer is valid for all shareholders of the company (i.e. those shareholders holding physical share certificates and those shareholders whose shares are held as book-entry security in the Central Depository System of the Central Depository Company of Pakistan Limited (CDC).
In order to avail the offer, registered shareholders or the shareholders with open transfer deeds need to send (by either Registered mail or courier service) or personally the shares certificates with verified transfer deeds to the authorized Purchase Agent Arif Habib Limited.
Payment to the shareholders will be made within three weeks of the date of issuance of the receipt.
The Purchase Agent would purchase the shares through Karachi Automated Trading System (KATS). Payment to sellers will be made as per the Clearing Schedule notified by the Pakistan Stock Exchange.
