PSX intends to acquire 1.9mn shares in CDC from IGI
MG News | June 17, 2022 at 04:30 PM GMT+05:00
June 17, 2022 (MLN): Pakistan Stock Exchange Limited (PSX) intends to acquire 1,949,995 ordinary shares of Rs10/- each in the Central Depository Company of Pakistan Limited (CDC), from IGI Investments (Private) Limited (IGI), a shareholder of CDC.
As per the PSX notice, the shares will be purchased for Rs25/- per share, amounting in aggregate to Rs48,749,875.
Accordingly, in line with the approval of PSX's Board of Directors, PSX has executed a shares purchase agreement with IGI for acquiring shares in CDC as an equity investment of Rs48,749,875/, which is subject to the consent of PSX's shareholders as required under Section 199 of the Companies Act, 2017, and other legal and regulatory approvals, where required, PSX in a notice said.
In this connection, PSX will be calling an Extraordinary General Meeting (EGM) to seek approval of the shareholders for the said transaction in due course of time, and the notice of EGM will accordingly be circulated to the shareholders within the stipulated timeframe, the notice added.
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