Calcorp's 84% stake acquired by new consortium

MG News | October 16, 2024 at 08:58 AM GMT+05:00

0:00

October 16, 2024 (MLN): Calcorp Limited (PSX: CASH) has disclosed a major shift in its ownership structure, as a consortium of three individuals Mr Asif Ali Sheikh, Mr Muhammad Hanif, and Mr Kashif Mumtaz, has agreed to acquire around 84% stake in the company.

On October 15, 2024, the consortium executed a Share Purchase Agreement (SPA) for the purchase of 9,020,473 shares from Optimus Limited, representing 83.96% of the company’s issued share capital.

Completion of the Transaction will be subject to the issuance of a public offer by the Acquirors' receipt of requisite regulatory approvals, and the satisfaction of other closing formalities.

The company’s principal line of business is that of a general-purpose holding company capable of making investments in a range of marketable securities, intellectual property and other assets plied for hire.

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