Pak Suzuki faces possible de-listing as BoD weighs buyout proposal

October 12, 2023 (MLN): The Board of Directors (BoD) of Pak Suzuki Motor Company Limited (PSX: PSMC) will review and consider the majority shareholder's intent to purchase all outstanding shares of PSMC held by other shareholders and de-listing under Rule 5.14.1 of the listing regulations.

As per a notice issued by the company to the PSX today, the decision taken by the board will be communicated right after the board meeting which will be held on Thursday, October 19, 2023.

Moreover, the BoD will review and consider the quarterly financial statements of the company for the third quarter ended September 30, 2023, and for declaration of any entitlement if any.

The company has declared the "Closed period" from October 12, 2023, to October 19, 2023, both days inclusive, the notice further added.

 Accordingly, no Director, CEO, or Executive will, directly / indirectly, deal in the shares of the company in any manner during the closed period.

To note, on September 18, the Pakistan Stock Exchange Limited carried out a Re-Composition exercise of KSE-100 index companies for the review period from March 2023 to August 2023, and PSMC was one of the four companies to leave the index.

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