October 31, 2023
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") and in continuation to our letter dated September 28, 2023, we hereby convey the following information:
Further to the aforementioned details, this is to update the shareholders that Engro Corporation Limited (the "Company") has now entered into discussions with Liberty Power Tech Limited for the execution of a scheme of arrangement with the objective of forming a strategic equity partnership in relation to its thermal asset portfolio held through Engro Energy Limited (the "Proposed Arrangement"). The thermal asset portfolio comprises of Engro Powergen Qadirpur Limited, Engro Powergen Thar (Private) Limited and Sindh Engro Coal Mining Company Limited.
The consummation of the Proposed Arrangement remains subject to successful negotiations, execution of definitive documents and receipt of regulatory and third-party approvals and consents.
In case of any further material developments, the Company shall keep PSX 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, October 31, 2023 | |
Name of Company: | Engro Corporation Limited |
Date of Report: | October 31, 2023 |
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 and 131 of the Securities Act, 2015.
In continuation to our letter dated September 28, 2023, we hereby convey the following information:
This is to update the shareholders that Engro Corporation Limited (the "Company") has now entered into discussions with Liberty Power Tech Limited for the execution of a scheme of arrangement with the objective of forming a strategic equity partnership in relation to its thermal asset portfolio held through Engro Energy Limited (the "Proposed Arrangement"). The thermal asset portfolio comprises of Engro Powergen Qadirpur Limited, Engro Powergen Thar (Private) Limited and Sindh Engro Coal Mining Company Limited.
The consummation of the Proposed Arrangement remains subject to successful negotiations, execution of definitive documents and receipt of regulatory and third-party approvals and consents.
In case of any further material developments, the Company shall keep PSX informed accordingly.
DATED: October 31, 2023
Mohammad Yasir Khan
Company Secretary
Engro Corporation Limited
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Engro Corporation Ltd. published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 05:58:46 UTC.