MLCF submits PAI to acquire AGL

MG News | July 25, 2024 at 09:55 AM GMT+05:00

0:00

July 25, 2024 (MLN): Next Capital Limited, acting as the manager to offer on behalf of Maple Leaf Cement Factory Limited (PSX: MLCF), submitted a Public Announcement of Intention (PAI) to acquire shares and control of Agritech Limited (PSX: AGL).

The Public Announcement of Intention is set to be published in one English and one Urdu newspaper on July 29, 2024.

This information was disseminated by Next Capital through a notification to the exchange.

MLCF, along with Maple Leaf Capital Limited (MLCL), already owns 87,412,501 shares of AGL and intends to acquire additional shares and control of the Target Company.

MLCF is part of the Kohinoor Maple Leaf Group, a reputable manufacturer of textiles and cement in Pakistan.

The company also operates in capital markets and has started investing in the healthcare sector of Pakistan. MLCF is the largest single cement production site in Pakistan.

Currently, MLCF operates four production lines for the production of grey cement and one line for white cement.

The total installed capacity for clinker production is 7.8 million tons annually.

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