Lahore, November 27, 2014 (PPI-OT): The majority shareholders of Central Forest Products Ltd. have applied for voluntary de-listing of the Company through buy-back of shares from the minority shareholders. The proposed buy-back transaction by the Company has been approved by the Listing Committee (LC) of the Lahore Stock Exchange at a price of Rs. 4.0 per share subject to purchase of at least 41,050 ordinary shares out of the total 410,500 shares, outstanding with the shareholders other than sponsors, to qualify for delisting.
The purchase agent of the Company, i.e. Cassim Investments (Pvt.) Ltd., has purchased 56,800 shares within a period of 60 days as per condition imposed by the Exchange. The Company has also complied with the procedure for voluntary de-listing under Listing Regulation No. 30-C of LSE.
After the delisting of this company from the Lahore Stock Exchange number of companies listed at LSE would reach to 431. In view of the above, the Exchange has decided to de-list Central Forest Products Ltd. from the Ready Board Quotation of LSE w.e.f. November 24, 2014.
The shareholders of the Company who could not avail the opportunity earlier and desire to sale the shares are requested to approach the purchase agent, Cassim Investments (Pvt) Ltd., 26-28, Karachi Stock Exchange Building, Stock Exchange Road, Karachi, Phone: 021-32462610-13, Fax: 021-32414742.
Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry congratulated the management/stakeholders of the Company on completing the successfully buy-back process of voluntary de-listing of the Company.
MD also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. Lahore Stock Exchange is a fully electronic and completely automated stock exchange of Pakistan that is the only domestic exchange to have more than one trading floors in the region.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan
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