JS Global Capital’s shareholders approve buyback of up to 3.99mln shares

June 3, 2021 (MLN): The shareholders of JS Global Capital Limited (JSGCL) have approved purchase (buy-back) of its own shares up to a maximum of 3,991,525 issued ordinary shares at a purchase price of PKR 80 per share through a tender offer for the purpose of cancellation of purchased shares.

According to the notice issued to Exchange, the duration of the purchase period was thirty days started from Tuesday, 4th May 2021 and ended on Wednesday, 2″ June 2021 (both days inclusive).

It is hereby confirmed that during the purchase period, shareholders of the Company have offered/surrendered 3,079,703 shares of the Company in the designated Investor Account Service (IAS) account opened with CDC for the purpose of buy-back. As the number of shares offered is less than the number of shares approved to be purchased, the Company has accepted and purchased all the 3,079,703 shares offered by the shareholders for the purposes of cancellation.

The Company is in the process of making the payment for accepted shares through pay-orders out of the escrow account opened for the purpose of buy-back. Further, the excess amount deposited by the Company in the escrow account shall be returned to the Company, the notice said.

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Posted on: 2021-06-03T12:03:00+05:00