ENGRO CORPORATION LIMITED April 04, 2024
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building, Stock Exchange Road
Karachi
Subject: Disclosure of Material Information
Dear Sir / Madam,
In accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book of the Pakistan Stock Exchange Limited ("PSX"), we hereby convey the following information:
Further to the disclosure dated February 26, 2024, we are pleased to inform that Engro Energy Limited ("EEL"), a wholly owned subsidiary of Engro Corporation Limited (the "Company"), has entered into definitive agreements with Liberty Power Holding (Pvt.) Limited (wholly owned subsidiary of Liberty Mills Limited) and other parties acting in concert (the "Acquirers) for the sale of its entire: (a) 68.9% shareholding in Engro Powergen Qadirpur Limited ("EPQL"), (b) 50.1% shareholding in Engro Powergen Thar (Private) Limited ("EPTL"), and (c) 11.9% shareholding in Sindh Engro Coal Mining Company Limited ("SECMC") (the "Transaction").
The Transaction value of each of EEL's shareholdings is: (1) EPQL: PKR 7.5 billion (2) EPTL:
PKR 21.04 billion and (3) SECMC: PKR 6.21 billion, in each case, subject to certain adjustments as agreed in the definitive agreements.
Completion of the Transaction is subject to conditions as agreed in the definitive agreements, including receipt of corporate / regulatory approvals and lender consents.
In case of any further material developments, the Company shall keep the Exchange informed accordingly.
You are requested to disseminate the above information to TREC Holders of the Exchange.
Best Regards,
Mohammad Yasir Khan
Company Secretary
Copied: Director / HOD
Surveillance, Supervision and Enforcement Department
Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad
DISCLOSURE FORM
IN TERMS OF SECTION 96 AND 131 OF THE
SECURITIES ACT, 2015
Karachi - April 04, 2024 | |
Name of Company: | Engro Corporation Limited |
Date of Report: | April 04, 2024 |
Address of Registered Office: | 8th Floor, The Harbor Front Building, HC # 3, Marine Drive, |
Block 4, Clifton, Karachi | |
Contact Information: | Mohammad Yasir Khan |
Company Secretary | |
Engro Corporation Limited |
Disclosure of Inside Information by Listed Company in Terms of Section 96 & 131 of the Securities Act, 2015.
Further to the disclosure dated February 26, 2024, we are pleased to inform that Engro Energy Limited ("EEL"), a wholly owned subsidiary of Engro Corporation Limited (the "Company"), has entered into definitive agreements with Liberty Power Holding (Pvt.) Limited (wholly owned subsidiary of Liberty Mills Limited) and other parties acting in concert (the "Acquirers) for the sale of its entire: (a) 68.9% shareholding in Engro Powergen Qadirpur Limited ("EPQL"), (b) 50.1% shareholding in Engro Powergen Thar (Private) Limited ("EPTL"), and (c) 11.9% shareholding in Sindh Engro Coal Mining Company Limited ("SECMC") (the "Transaction").
The Transaction value of each of EEL's shareholdings is: (1) EPQL: PKR 7.5 billion (2) EPTL:
PKR 21.04 billion and (3) SECMC: PKR 6.21 billion, in each case, subject to certain adjustments as agreed in the definitive agreements.
Completion of the Transaction is subject to conditions as agreed in the definitive agreements, including receipt of corporate / regulatory approvals and lender consents.
In case of any further material developments, the Company shall keep the Exchange informed accordingly.
DATED: April 04, 2024
Mohammad Yasir Khan
Company Secretary
Engro Corporation Limited
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Engro Corporation Ltd. published this content on 04 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2024 07:41:06 UTC.
