SPLC's major shareholder is in advanced divestment stage

News Image

By MG News | February 04, 2022 at 12:40 PM GMT+05:00

0:00

February 4, 2022 (MLN): SAPICO, a major shareholder of Saudi Paki Leasing Company (PSX: SPLC) is in an advanced stage of divestment and signed a non-disclosure agreement with three shortlisted parties, SPLC informed through its progress report sent to PSX on Friday.

As part of the acquisition process, the acquirer has extended the date of Public Announcement of Offer (PAO) by ninety days as admissible under the applicable regulations of the listed company, the report added.

Even if SAPICO remains unsuccessful in materializing the divestment efforts the company will continue with ongoing efforts for implementation of rehabilitation plan duly approved by the board of directors in letter and spirit, it noted.

Subject to the favourable business environment in a normal course without any Force Majeure circumstances i.e. natural calamity or pandemic we expect to meet MER and settle COls and other money market liabilities in coming months.

Furthermore, the report stated that Sindh High Court has decided to hear cases of urgent nature only owing to COVID- 19 pandemic, hence our efforts for a vacation of stay obtained by counterparty against the sale of investment property are being hampered.

The company expects to obtain positive results in this regard as soon as Sindh High Court resumes its normal functioning, the report said.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,712.08
115.18M
0.28%
368.05
ALLSHR 81,265.48
320.61M
0.30%
241.49
KSE30 40,034.52
51.22M
0.32%
126.25
KMI30 190,405.43
65.03M
0.46%
870.43
KMIALLSHR 54,935.46
155.79M
0.28%
151.80
BKTi 34,902.11
11.91M
-0.11%
-38.62
OGTi 28,611.58
10.50M
1.12%
315.53
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,750.00 110,105.00
109,200.00
-535.00
-0.49%
BRENT CRUDE 68.53 69.00
68.41
-0.58
-0.84%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.89 67.50
66.78
-0.56
-0.83%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 10:45 AM GMT+05:00

Pakistan faces population emergency: Ahsan Iqbal


July 03, 2025 at 10:22 AM GMT+05:00

Bunny’s starts bread production in Islamabad


July 03, 2025 at 10:16 AM GMT+05:00

Atlas Honda updates bike prices amid new taxes


July 03, 2025 at 09:59 AM GMT+05:00

Pak Suzuki revises car prices after budget 2025–26



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg