RMS Limited extends offer deadline for 63.56% stake in BWHL by 90 days
MG News | February 02, 2024 at 05:15 PM GMT+05:00
February 02, 2024 (MLN): RMS (Private) Limited has extended the deadline for the Public Announcement of the Offer to acquire up to 8.474 million (63.56%) ordinary shares and control of Baluchistan Wheels Limited (PSX: BWHL) by an additional period of 90 days, i.e., until May 05, 2024.
BWHL received this information through a letter from Arif Habib Limited, the manager of the offer on behalf of RMS (Private) Limited.
BWHL has further informed that the parties under this transaction have taken all reasonable steps towards obtaining the regulatory approvals as required under the applicable laws of Pakistan.
However, certain of these approvals are yet to be issued, and as such the parties cannot complete the transaction before receipt thereof.
The company assured that the parties under this transaction shall continue to make efforts to expedite the above approvals and processes.
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