Meskay & Femtee to acquire 74.41% of MWMP shares

February 04, 2025 (MLN): Intermarket Securities Limited (PSX: IMS) (Manager to the Offer), on behalf of its client Meskay & Femtee Trading Company (Pvt) Ltd (Acquirer), made the Public Announcement of Intention (PAI) to acquire up to 21,391,485 representing 74.41% of the total issued share capital of Mandviwalla Mauser Plastic Industries Limited (MWMP) (the target company).

IMS submitted a Public Announcement of Offer (PAO) on behalf of the Acquirer to acquire the aforementioned ordinary shares of the Target Company at an offer price of Rs5.0534 per share, the company's filing on PSX revealed today.

Meskay & Femtee Trading Company (Private) Limited, a company incorporated under the laws of Pakistan, along with all its directors, hereby confirms the following in relation to the acquisition of 74.41% shares in MWMP through a public offer.

The company confirms that each of the Acquirers, including persons in concert (if any), will be severally and jointly responsible for ensuring compliance with the Act and the regulations.

Meskay & Femtee confirms that the public offer is being made to all shareholders who hold voting shares of the Target Company, except for persons acting in concert with the Acquirers (if any), whose names appear in the register of shareholders as of the date of book closure.

The company further confirms that all statutory approvals for the public offer have been obtained; however, approval from the Competition Commission is in process and is expected to be obtained soon.

“We confirm that no voting shares acquired pursuant to the public offer shall be transferred to another person,” Meskay & Femtee added.

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