Corporate Alerts: EFG Hermes requests 90-day extension in Public Offer

MG News | July 24, 2017 at 02:39 PM GMT+05:00

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On behalf of their clients, EFG Hermes Pakistan Limited formerly Invest and Finance Securities Limited) acting as the Manager of the Offer have submitted a request for an extension of 90-days for “Public Announcement of the Offer” to be made by the Acquirers.

The Acquirers disseminated their “Public Announcement of intention to acquire up to 51% shares and control of ‘Next Capital Limited’ on January 26, 2017.

Since the Acquirers are in the process of getting approval of Competition Commission of Pakistan for the subject acquisition as well as are negotiating the share purchase agreement(s), therefore, a 90-days extension will facilitate them to conclude their negotiations, solicit CCP approval and complete all other documentation to announce public offer.

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