K Electric : Material Information - Withdrawal of PAI by Shanghai Electric Power Company Limited.

SEC/PSX/23-06-012 27 June 2023

Executive Director	The General Manager
Public Offering & Regulated Persons Department	Pakistan Stock Exchange Limited
Securities Market Division	Stock Exchange Building
Securities & Exchange Commission of Pakistan	Stock Exchange Road
NIC Building, 63 Jinnah Avenue	Karachi
Blue Area
Islamabad

Subject: DISCLOSURE UNDER TAKEOVER REGULATIONS - WITHDRAWAL OF PUBLIC

ANNOUNCEMENT OF INTENTION TO ACQUIRE UP TO 66.4% OF THE ORDINARY SHARE CAPITAL OF K-ELECTRIC LIMITED BY SHANGHAI ELECTRIC POWER COMPANY LIMITED

Dear Sirs,

In accordance with Regulation 21(1)(e) and 21(2) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2017 read with the Securities Act 2015, Clauses 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, we are enclosing herewith the Form disclosing material information with respect to receipt of a copy of withdrawal of public announcement of intention for acquisition of up to 66.40% ordinary share capital of K-Electric Limited (directly or indirectly) by Shanghai Electric Power Company Limited.

Messrs. Arif Habib Limited, Manager to the Offer, has intimated that the Acquirer continues to be fully committed to consummate the transaction pending receipt of regulatory and other approvals. The Acquirer will notify the fresh Public Announcement of Intention via Pakistan Stock Exchange Limited and shall also publish the same in newspapers within two working days of such notification. The Manager to the Offer has further intimated that this process of withdrawal and re-issuance of the Public Announcement of Intention is being undertaken to ensure compliance with the law.

Yours sincerely,

Rizwan Pesnani

Chief Risk Officer & Company Secretary

Encl.: As above

K-Electric Limited

39-B KE House Sunset Boulevard, DHA- Phase 2, Karachi, Pakistan

DISCLOSURE FORM

In terms of Regulation 21(1)(e) and 21(2) of the Listed Companies (Substantial Acquisition of

Voting Shares and Takeovers) Regulations 2017 read with the Securities Act, 2015

Name of Company:	K-Electric Limited (KE)
Date of Report:	27 June 2023
Name of Company as
specified in its Memorandum:	K-Electric Limited
Company's registered office:	KE House, 39/B, Sunset Boulevard, Phase II
	Defence Housing Authority, Karachi
Contact information:	Rizwan Pesnani, Chief Risk Officer &Company Secretary,
	K-Electric Limited

Disclosure of inside information by listed company:

We have received a copy of the withdrawal of Public Announcement of Intention for acquisition (directly or indirectly) of up to 66.40% of the ordinary share capital of K-Electric Limited by Shanghai Electric Power Company Limited (Acquirer). A copy of the withdrawal of Public Announcement of Intention is enclosed.

M/s. Arif Habib Limited, Manager to the Offer, has intimated that the Acquirer continues to be fully committed to consummate the transaction pending receipt of regulatory and other approvals. The Acquirer will notify the fresh Public Announcement of Intention via Pakistan Stock Exchange Limited and shall also publish the same in newspapers within two working days of such notification. The Manager to the Offer has further intimated that this process of withdrawal and re-issuance of the Public Announcement of Intention is being undertaken to ensure compliance with the law.

Pursuant to the requirements of the Securities Act 2015, the Company has duly caused this form/ statement to be signed on its behalf by the undersigned hereunto duly authorized.

For and on behalf of

K-Electric Limited

Rizwan Pesnani

Chief Risk Officer & Company Secretary

Encl.: As above

K-Electric Limited

39-B KE House Sunset Boulevard, DHA- Phase 2, Karachi, Pakistan