Islamabad, Apr 15, 2025: Greentree Holdings Limited has once again prolonged its offer to purchase up to 35.147% shares and take control of TRG Pakistan Limited, as announced by AKD Securities Limited (PSX: AKDSL) through a recent stock market notification.
The extension comes in response to fresh instructions from the Sindh High Court.
AKD Securities, acting as the offer manager on behalf of Greentree Holdings, disclosed in its official statement that an interim court directive issued on April 10, 2025, has extended the deadline for accepting the offer.
However, The Sindh High Court’s latest ruling, referenced under Court Order JCM No. 12 of 2025, has mandated the extension of the acceptance period for the public offer.
Read More: Pakistan Eyes Rs159 Billion Boost in Defense Spending
Updated Offer Schedule:
-
Initial Offer Start Date: March 25, 2025
-
Original Closing Date: April 4, 2025
-
First Extension: April 15, 2025
-
New Extended Deadline: April 25, 2025
-
Operational Hours: 9:00 AM to 5:00 PM (Working Days Only)
According to the updated schedule, shareholders now have until April 25, 2025, to respond to the public offer.
Furthermore, the acceptance window will remain open during standard business hours, from 9:00 AM to 5:00 PM on all official working days.
This latest extension is intended to protect the rights of TRG Pakistan shareholders, ensuring they have ample time to evaluate and respond to the offer despite ongoing legal proceedings.
However, AKD Securities emphasized that the court’s directive was crucial in preventing any inconvenience or pressure that shareholders might face due to the unresolved legal framework surrounding the transaction.
Although, The acquirer aims to maintain transparency and fairness in the tender process by extending the timeline, enabling investors to make informed decisions without court-related delays.
