Anwar Khawaja Industries (Private) Limited informed Karachi Stock Exchange about the to acquire up to 26.488% of voting shares of the Target company, in daily business recorder and Nawa-i-Waqt on July 13, 2015. The acceptance period for the acquisition of shares of the Target Company commenced on September 05, 2015 and ended on September 11, 2015. During the acceptance period 17,325 ordinary shares were tendered by shareholders of Target Company against the offer to acquire up to 1,946,718 ordinary shares by Acquirers.
Further the voting shares tendered by shareholders is less than the number of voting shares of the offer by the Acquirers therefore all tendered shares have been accepted in full. Proportional acceptance as prescribed under Sub-section (2) of Section 112 of the Securities Act, 2015 is not applicable in this case. The payment will be made via pay order to all successful shareholder of GOC within thirty (30) days from the date of closure of public offer. Payment will be dispatched to each successful shareholder's address as mentioned in public offer acceptance letter.
Source: Karachi Stock Exchange
