JS Global issues PAO to acquire over 8% stake in Calcorp Limited

March 04, 2025 (MLN): JS Global Capital Limited (PSX: JSGCL) (Manager to the Offer), on behalf of its client Asif Ali Shaikh in concert with Muhammad Hanif Shaikh and Kashif Mumtaz (the acquirers), has given Calcorp Limited (the target company) notice of the Public Announcement of Offer (POA).

The offer aims to acquire up to 0.86 million ordinary shares, representing 8.02% of the total issued share capital of the target company.

The Acquirer is offering to purchase the additional voting shares having a par value of Rs10 each at an offer price of Rs32.98 per ordinary share, the company's filing on PSX revealed today.

This is with reference to the Public Announcement of Intention (PAI) published on December 05, 2024, to acquire ordinary shares of Calcorp Limited by the acquirers.

The acquirer entered into a share purchase agreement (SPA) dated October 15, 2024, and an addendum to the SPA dated February 19, 2025, with the sponsors of Calcorp Limited.

The agreement is for the purchase of 9m ordinary shares, representing approximately 83.96% of the total issued ordinary share capital of the target company, at a price of Rs32.98 per share.

Therefore, the acquirer is offering to purchase the aforementioned additional voting shares.

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