SECP-Directed Changes Prompt JD Taurus to Revise Acquisition Notice

KARACHI: JD Taurus (Private) Limited has issued a corrigendum to its public announcement regarding its proposed acquisition of a 35.06% stake and management control of Saudi Pak Consultancy Company Limited, following observations raised by the Securities and Exchange Commission of Pakistan (SECP).

The revised notice states that the acquisition plan remains unchanged and covers 15,835,403 ordinary shares, representing 35.06% of Saudi Pak Consultancy Company Limited.

According to the corrigendum, the amendments are intended to address SECP observations and clarify certain statements made in the original public announcement. The revised notice removes wording suggesting the acquisition was being undertaken under specific regulatory directions and clarifies that any regulatory approvals will be obtained only where legally required.

The corrigendum also updates disclosures relating to other companies in which the ultimate beneficial owners of the acquirer hold significant shareholdings.

No changes have been made to the proposed size of the transaction or the acquirer’s intention to obtain control of Saudi Pak Consultancy Company Limited. The corrigendum serves solely to amend and clarify the original public announcement in line with regulatory observations.