Karachi January 16 2024: Taj Gasoline announced withdrawal of Public Announcement of Intention to acquire at least 41% of the Issued Paid Up Capital and Control of Hascol Petroleum limited, according to notice issued by the Manager to the Offer.
AKD Securities limited, the Manager to the Offer, on behalf of Taj Gasoline (Private) limited (“Acquirer” ), write with reference to the Public Announcement of Intention (” PAI”) dated June 16, 2023, extended by notice dated December 13, 2023, to expire on January 31,2024 (collectively, the “PAI” ), to acquire at least 41% of the Issued Pa id-Up Share Capital and Control of Hascol Petroleum limited by Taj Gasoline (Private) Limited (the “Transaction”) under Securities Act, 2015 (“Act”) and Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
“ln accordance with Regulation 21 of the Regulations read with the Act, we hereby give notice that the Acquirer has decided not to proceed with the acquisition. Consequently, the Acquirer is withdrawing the PAI in respect of the transaction’ notice states.
