MPCL-CA-24-3900
April 29, 2024
The Managing Director
Pakistan Stock Exchange Limited
Stock Exchange Road
Karachi
Subject: Disclosure of Material/Price Sensitive Information
Dear Sir,
In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 (a) of the PSX Regulations, we hereby convey the following information:
Investment in Mari Mining Company (Pvt) Ltd (MMC) by way of Equity Investment
The Board of Directors of Mari Petroleum Company Limited ("MPCL") in its meeting held on April 26, 2024, has approved an investment of upto Rs. 2.5 billion by MPCL in MMC by way of equity injection. The investment will be made by MPCL in tranches spread over two years by subscribing to the right issue of MMC shares.
MMC is a wholly owned subsidiary of MPCL, which was established in July 2023 to undertake mineral mining projects in Pakistan and to contribute to the growth of the mineral mining sector of the country.
You may disseminate this information to the TRE certificate holders of the Exchange. Best regards,
Muhammad Sajjad
Acting Company Secretary
Cc:
Head of Department (Offsite I)
Securities and Exchange Commission of Pakistan
NIC Building, Jinnah Avenue, Blue Area, Islamabad
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Mari Petroleum Company Limited published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2024 04:16:07 UTC.