Mughal Iron & Steel Industries : GEM listing of Mughal Energy Limited

Ref: MISIL/PSX-Listing/GEM/MEL/2024

May 24, 2024

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road

Karachi.

SUBJECT:

LISTING ON GEM - MUGHAL ENERGY LIMITED

Dear Sir,

Refer to our earlier notice dated April 09, 2024 bearing reference no. MISIL/PSX- Listing/GEM/MEL/2024, whereby, it was informed that application for listing on GEM Board of Pakistan Stock Exchange Limited has been made by Mughal Energy Limited for offering 19,411,000 ordinary shares representing 10% of its post paid-up capital as an initial offer to the accredited investors. In this regard, we are pleased to inform, that said approval for listing on the Growth Enterprise Market (GEM) Board has been granted by the Pakistan Stock Exchange Limited (PSX) (copy attached).

Further, the right offer for 19,411,000 ordinary shares has also been declined by Mughal Iron & Steel Industries Limited and said the right shares will now be offered to the accredited investors through GEM Board (as an initial offering) and/or to the underwriter(s) in accordance with the Companies Act, 2017. Consequently, Mughal Iron & Steel Industries Limited will hold 90% of the ordinary shares, 100% of the Class-B shares and 91.04% of the total share capital of Mughal Energy Limited.

Yours Sincerely,

For MUGHAL IRON & STEEL INDUSTRIES LIMITED

MUHAMMAD FAHAD HAFEEZ

(Company Secretary)

CC: Executive Director / HOD,

Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan

63, NIC Building, Jinnah Avenue, Blue Area,

Islamabad.