MLCF to buy-back 100m shares at spot price

MG News | October 19, 2023 at 11:57 AM GMT+05:00

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October 19, 2023 (MLN): Maple Leaf Cement Factory Limited (PSX: MLCF) has made a public announcement to purchase (buy-back) 100 million ordinary shares of the company at the spot/current share price prevailing during the purchase period, the company's latest filing on the PSX showed today.

This represents 9.32% of the issued ordinary shares of the company.

The company stated that the purpose of this purchase is the cancellation of shares.

The purchase period will commence from October 27, 2023 and end on April 15, 2024 (both days inclusive) or if the purchase/buy-back by the company of its issued ordinary shares is completed before April 15, 2024, the purchase period will end on that date.

At the time of writing, the company's scrip price is trading at Rs35.13 per share, depicting an increase of Rs0.67 per share or 1.94% DoD.

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