Karachi December 18 2023: Millat Global Holdings, a DIFC company shows its intent to acquire 76 percent of share capital of Hascol Petroleum Limited.
The board of Hascol resolved that on the basis of the Non-Binding Letter of Intent received from Millat Energy Group, through its investment holding company, Millat Global Holdings, a DIFC company, to acquire, through subscription, 76% fully diluted share capital of the Company, the management be and is hereby authorized to invite the Potential lnvestor to undertake due diligence of the Company and provide necessary access to Company’s VDR subject to execution of non-disclosure agreement(s), publication of Public Notice of Intent to acquire shares of the Company in compliance with the provisions of the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2020, with a binding offer submission timeline of six weeks from commencement of due diligence by the Potential lnvestor.
