RMS Limited extends offer deadline for 57.96% stake in ESBL by 90 days

MG News | February 14, 2024 at 03:29 PM GMT+05:00

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February 14, 2024 (MLN): RMS (Private) Limited has extended its offer to acquire 119,279,077 shares, representing 87.96% of the total issued and paid-up capital of Escorts Investment Bank Limited (PSX: ESBL), by 90 days.

Accordingly, the time for making the public announcement of the offer in respect of the transaction is extended till May 12, 2024.

This information was disseminated by Arif Habib Limited (PSX: AHL), who is acting as the manager of the offer.

The notice further reveals that both the parties in this transaction are still in the negotiation phase and working towards achieving an acceptable solution.

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