THCCL shareholders approve to acquire 26% stake in Thatta Power
MG News | December 09, 2024 at 03:08 PM GMT+05:00
December 09, 2024 (MLN): The shareholders of Thatta Cement Company Limited (PSX: THCCL) have approved an investment in Thatta Power (Private) Limited (TPPL) by acquiring from Rotocast Engineering Company (Private) Limited its equity stake in TPPL, consisting of 12,500,000 ordinary shares.
These shares represent 26.09% of the issued and paid-up capital of TPPL, which is an associate company of THCCL.
The purchase consideration for the respective stake is Rs 137.5 million, broadly in line with the terms determined by the authorized representatives of the company.
The Chief Executive Officer of the Company is authorized and empowered to take all necessary steps to effectuate the aforementioned resolutions, and make the requisite investments.
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