Karachi December 16 2021: Board of Directors of Wyeth Pakistan Limited resolved that company be delisted from the Pakistan Stock Exchange Limited ("Exchange") in accordance with the Voluntary De-listing Regulations of the Exchange.
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Wyeth To Buyback All Shares From Minority Shareholders: PSX
The transaction is subject to Wyeth LLC, USA, the majority shareholder / sponsor of the Company: (i) purchasing ordinary shares of the Company, having face value of PKR 100/- (Pak Rupees One Hundred) each, at a buy back price of PKR 2,000- (Pak Rupees Two Thousand); and (ii) having purchased at least 25% (twenty five percent) (i.e. 99,145 ordinary shares) of the total 396,579 ordinary shares of the Company held by the shareholders (other than the sponsor and its group company), as approved by the Voluntary Delisting Committee of the Exchange on November 16, 2021.
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Wyeth Pakistan Sponsors Approved Voluntary Buy Back of Company Shares At PKR 2,000 Per share
Upon completion of all regulatory requirements as prescribed by the Exchange.
FURTHER RESOLVED THAT Mr. S. M. Wajeehuddin, the Chief Executive Officer of the Company and / or Mr. Tafazzul Khan the Chief Financial Officer of the Company and / or Ms. Sana lftikhar Qamar, the Company Secretary of the Company, be and are hereby severally authorized to do all acts, deeds and take all necessary actions, including to complete all legal formalities and file all documents as may be necessary, to implement the aforementioned resolutions, as well as carry out any other act which may be ancillary and/or incidental to the above and necessary to achieve the objective of the aforesaid resolutions.
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