Taj Gasoline extends offer period to acquire at least 41% control of Hascol by 49 days

MG News | December 13, 2023 at 01:13 PM GMT+05:00

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December 13, 2023 (MLN): Taj Gasoline (Private) Limited has extended the time period for its offer to acquire 41% voting shares and control of Hascol Petroleum Limited (PSX: HASCOL) by an additional 49 days, now lasting until January 31, 2024, as disclosed by AKD Securities Limited (AKDSL) on the local bourse today.

AKDSL is the manager handling the offer and issued a Public Announcement of Intention on behalf of Taj Gasoline on June 16, 2023.

The initial time period was 180 days from the date of the public announcement to December 13, 2023, however on behalf of the acquirer, AKDSL has extended the deadline.

The manager of the offer further disclosed that the due diligence exercise of the target company is currently in process.

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