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

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

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.