Sapphire to go for voluntary de-listing of SFL Ltd from PSX

MG News | December 13, 2018 at 11:20 AM GMT+05:00

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December 13, 2018 (MLN): The Board of Directors of SFL Limited has decided to go for voluntary de-listing of shares from Pakistan Stock Exchange after buy-back of shares from all minority shareholders of the Company, a notification issued to PSX revealed on Thursday.

The management of the company is of the view that it is not heavily dependent on the funds from public at present nor it will be in the future, Keeping in view these factors, the BoD has decided to delist SFL Limited from Pakistan Stock Exchange under its voluntary delisting regulation.

SFL Limited is listed on Pakistan Stock Exchange and approximately 98.125% shareholding are held by Directors/Sponsors, Associated Companies and the remaining in free float.

In this respect, the company has bought back 376,658 ordinary shares being 1.875% of the total Paid Up Capital of SFL Limited at the purchase price of Rs. 150/share from the minority shareholders.

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