Johnson & Phillips (Pakistan) delists from PSX

MG News | April 17, 2024 at 11:30 AM GMT+05:00

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April 17, 2024 (MLN): Pakistan Stock Exchange (PSX) has accepted the request of Johnson & Phillips (Pakistan) Limited and has decided to delist the Company from the Exchange with effect from Wednesday, April 17, 2024.

The shareholders of the company, who may desire to avail the opportunity of buy-back of shares by the Sponsors, are advised by PSX to approach Adam Securities Limited, the Purchase Agent of the company.

To recall, on January 18, 2024, the shareholders of JOPP resolved that the company shall be delisted from the PSX upon completion of all regulatory requirements as prescribed by the Exchange.

Accordingly, the sponsors of the company agreed to purchase 545,983 ordinary shares of the company, each with a face value of Rs10, at a buyback price of Rs160, as determined and approved by the Voluntary Delisting Committee of the Exchange on December 18, 2023.

In light of this, Muhammad Anis Mianoor, the majority shareholder decided to purchase all the shares of the company held by other shareholders.

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