Mitchells major shareholders consider full divestment
MG News | November 13, 2024 at 09:33 AM GMT+05:00
November 13, 2024 (MLN): Shareholders of Mitchells Fruit Farms Ltd. (PSX: MFFL) collectively holding over 40% of the company’s issued share capital are evaluating various strategic options, including the potential divestment of their entire stake.
MFFL shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.
“Syeda Maimanat Mohsin and Syeda Matanat Ghaffar (shareholders), holding in aggregate 40.63% of the issued share capital of the company, are exploring various strategic options in relation to their investment in the company, including potential divestment of their entire stake in the company,” read the notice.
In light of this, the company said it will be preparing a data room to facilitate the shareholders for purposes of any diligence exercise which may be required in the context of the strategic review.
Any decision relating to the strategic review would be subject to regulatory approvals as well as the execution of definitive agreements.
Shares of Pakistan's food company were down 1% after slumping 7% yesterday.
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