The Karachi Stock Exchange (KSE) has accepted the request for de-listing of Fecto Sugar Mills Limited, and the company will stand de-listed from KSE from August 22, 2011.
"Pursuant to the request of de-listing of Fecto Sugar Mills Limited and buy-back of shares by the sponsors of the company at Rs 38 per share during the initial period and subsequent submission of an Undertaking of the Purchase Agent to purchase the remaining shares (valid up to July 11, 2012), the Exchange, in exercise of the power vested in it under Sub-Section (5) of Section 9 of the Securities and Exchange Ordinance, 1969, has accepted the request for de-listing of the company", a KSE notice issued here on Wednesday said. "Accordingly, the company shall stand de-listed from this Exchange with effect from Monday, August 22, 2011", it added.
"The shareholders of the Company, who may desire to avail this opportunity are advised to approach the Purchase Agent, Moosa, Noor, Muhammad, Shahzada & Co (Private) Limited at Karachi Stock Exchange Building", the notice said.
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