Delisting Committee approves minimum buy-back price of Rs 270/share for Akzo Nobel

MG News | March 04, 2020 at 10:48 AM GMT+05:00

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March 4, 2020 (MLN): The Voluntary Delisting Committee of the Exchange, in its meeting held March 3^rd, 2020, has approved the minimum buy-back price of PKR 270 per share in reference to the voluntary delisting of Akzo Nobel Pakistan Limited.

Moreover, the Committee has also determined the minimum quantum of purchase of at least 6,178,511 Ordinary Shares (i.e. 55%) out of the total 11,233,655 Ordinary Shares outstanding with the minority shareholders, to qualify for delisting.

In relation to Buy-back of shares and delisting, the committee asks to convey the acceptance of the Sponsor immediately.

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