Arif Habib Limited — M&A Activity 2024

ARIF HABIB LIMITED

May 14, 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
Escorts Investment Bank Limited
Securities and Exchange Commission of Pakistan
Ground Floor, 26- Davis Road
Lahore

Subject: Publication of Withdrawal Notice of Public Announcement of intention to acquire 87.96% of the ordinary share capital of Escorts Investment Bank Limited

Dear Sirs,

This is with reference to the Public Announcement of Intention (“PAI”) made by RMS (Private) Limited (“Acquirer”) published in Business Recorder and Nawa-i-Waqt on August 16, 2023 to directly or indirectly acquire up to 119,279,077 ordinary shares of Escorts Investment Bank (the “Target Company”) representing 87.96% of the total issued share capital of the Target Company, subject to receipt of regulatory and other approvals (“Transaction”).

In this regard, we would like to inform you that withdrawal notice has been published in today’s edition of Business Recorder and Naqai Waqt. Copies of the newspaper publications are enclosed herewith. You may contact the undersigned for any additional information or clarification.

Yours faithfully,

For and on behalf of Arif Habib Limited

Yousaf Bashir
Managing 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-Aiwan-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.ahftrade.com
TREC Holder of the Pakistan Stock Exchange Ltd. | Branch Reg No. BOA-050 / 01

Withdrawal of Public Announcement of intention to acquire 87.96% of the ordinary share capital of Escorts Investment Bank Limited

This is with reference to the Public Announcement of Intention ("PAI") made by RMS (Private) Limited ("Acquirer") published in Business Recorder and Nawa-i-Waqt on August 16, 2023 to directly or indirectly acquire up to 119,279,077 ordinary shares of Escorts Investment Bank Limited (the "Target Company") representing 87.96% of the total issued share capital of the Target Company, subject to receipt of regulatory and other approvals ("Transaction").

We, Arif Habib Limited, in our capacity as Manager to the Offer, would like to intimate that the time period for making the public announcement of offer (as extended by the Acquirer) lapsed on May 12, 2024 ("Expiry Date") as certain regulatory and other approvals for the Transaction remain outstanding.

In the premises, and pursuant to Regulation 21(1)(e) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 ("Regulations") read with the Securities Act 2015, we hereby give notice that as of the Expiry Date, the PAI stands withdrawn.

This process of withdrawal is being undertaken to ensure compliance with the law.

Manager to the Offer
Arif Habib Limited
Investment Banking
2nd Floor, Arif Habib Centre
23 M.T. Khan Road Karachi
Tel: +92 21 111 245 111

12

ایریا رن اُو سفیت پیک لیفٹو 87.96% آرڈینری ٹیم کیمپل حاصل کر نے کا رادے کے اطلان عام کی دامی

کوال آرڈینیم ایس (پراٹیو بیت) لیفٹو ("حاصل کتنے") کی طرف سے ایریا رن اُو سفیت پیک لیفٹو (دی
"بازک کیمی) کے براہ راست پایا اُو اسطہ 077, 279, 119 عام ٹیمز حاصل کر نے کے لیے، جو
بازک کیمی کے کل جاری شدہ ٹیم کیمپل کے 96%, 87 کی نمائندگی کر نے میں، ریگولیٹری اور دوسری
حضور یوں ("تراز کیمپل") کے طے شدہ شروط، کا رادے کا اطلان عام (PAT) 16 اگست، 2023
کو اشیاء برنس ریکارڈ راورٹو نے وقت میں شائع ہوا۔

ہم، عارف حبیب لیفٹو، آفر کے سٹرکچر کی حیثیت سے مطلع کر نے میں کر آفر کے اطلان عام کی مدت (جیسا کہ
حصول کتنے کی طرف سے توسیع کی گئی تھی) 12 ستمبر، 2024 کو ("سہارا نظام") ختم ہو چکی ہے،
کیونکہ اس تراز کیمپل کے لیے بعض ریگولیٹری اور دوسری حضور پاس ہونا تاثیر ہیں۔

ان حالات میں اور اسٹیڈیمپئیر (سے شیٹل) کیونکر ٹین آف ویٹنگ ٹیمز زا یئر ٹیک اوروز) ریگولیٹر 2017
("ریگولیٹر") کے ریگولیٹن (e) (1) 21، چھے سکیع رییزابیک 2015 کے ساتھ پڑھاجائے، ہم
بذریعہ بذا مطلع کر نے میں کرنا رن اُو نظام پر بیہ PAI وائنس لے لیا گیا ہے۔

دامی کا پیمانے تو ان کی تقبل بھی جانے کے لیے کیا جا رہا ہے۔

آفر کے سٹرکچر
عارف حبیب لیفٹو
اُو سفیت پیک
دوسری منزل، عارف حبیب لیفٹو
23، ایم بی خان روڈ کراچی
نون: 111 245 111 21 +92