April 1, 2021 (MLN): K-Electric Limited (KE) has received a fresh Public Announcement of Intention (PAI) from Shanghai Electric Power Company Limited (SEP) to acquire up to 66.40% voting shares of K-Electric Limited, subject to receipt of regulatory and other approvals.
This PAI has been notified to the K-Electric Board of Directors on 31 March 2021.
The aforesaid information was disseminated by KE via notification to Exchange.
To note, SEP had withdrawn PAI for the acquisition of up to 66.4% of the voting shares of K-Electric Limited on March 29, 2021, as the time period for making the public announcement of the offer (as extended by the Securities & Exchange Commission of Pakistan) was lapsed on March 27, 2021, on the basis that certain regulatory and other approvals for the transaction remained outstanding.
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