Arif Habib Limited — M&A Activity 2024

ARIF HABIB LIMITED

November 13th, 2024

Executive Director
Public Offering & Regulated Persons Department
Securities Market Division
Securities and Exchange Commission of Pakistan
NIC Building, Jinnah Avenue
Islamabad

The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Karachi

The Chief Executive
Samba Bank Limited
Ground Floor Arif Habib Centre, MT Khan Road
Karachi

Subject: Withdrawal of Public Announcement of Intention to acquire approximately 84.51% ordinary shares of Samba Bank Limited

Dear Sirs,

This is with reference to the Public Announcement of Intention (“PAI”) made by Bank Alfalah Limited (“Acquirer”) dated April 9, 2024 published in Business Recorder and Nawa-i-Waqt on April 15, 2024 to acquire approximately 84.51% shareholding of Samba Bank Limited (the “Target Company”) held by Saudi National Bank (“SNB”), and the Extension in the timeline for Public Announcement of Offer issued on October 23rd 2024, subject to receipt of regulatory and other approvals (“Transaction”).

SNB has decided not to proceed with the sale of its 84.51% shareholding in the Target Company and, therefore, has terminated the Transaction. In this regard, the disclosure of SNB’s decision was made by the Target Company to the PSX on Tuesday, 12th November 2024.

In this backdrop, and pursuant to Regulation 21 of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 (“Regulations”) read with the Securities Act 2015, we Arif Habib Limited, in our capacity as Manager to the Offer, on behalf of the Acquirer, hereby give notice that in view of the termination of the Transaction by SNB, our client, the Acquirer hereby withdraws the PAI in relation to the shareholding in the Target Company. The aforesaid withdrawal of PAI is intended to be published in Business Recorder and Nawa-i-Waqt on November 14th 2024.

This process of withdrawal is being undertaken to ensure compliance with the law. You may contact the undersigned for any additional information or clarification.

Yours faithfully,

For and on behalf of Arif Habib Limited

Farhan Rizvi
Director, Investment Banking

Head Office / Corporate Office: Arif Habib Centre, 23 M.T. Khan Road, Karachi | UAN: +92 21 111 245 111 | Fax: +92 21 3242 9653
Lahore Office: Office No. G-5 & G-6, Ground Floor, LSE Plaza, 19, Khayaban-e-Alwan-e-Iqbal, Lahore, | Tel: +92 42 3631 3700 - 11, 3631 3741 - 44
Islamabad Office: Office No. 506, 5th Floor, ISE Towers, Jinnah Avenue, Islamabad | Tel: +92 51 289 4505 - 06
Peshawar Office: F16-F17, 1st Floor, The Mall Tower, Peshawar Cantt | Tel: +92 91 5253913
Faisalabad Office: Office No. 04, 3rd Floor, Legacy Tower, Kohinoor City, Faisalabad. | Tel +92 41 8531010-3
Multan Office: Office No. 05, 3rd Floor, The United Mall, Plot No. 74, Abdali Road, Multan. | Tel: +92 61 4514412
[email protected] | www.arifhabibltd.com | www.ahitrade.com
TREC Holder of the Pakistan Stock Exchange Ltd. | Branch Reg No. BOA-050 / 01