The shareholders of JS Global Capital Limited (JSGCL) have approved purchase (buy-back) of its own shares up to a maximum of 3,991,525 issued ordinary shares at a purchase price of Rs 80 per share through a tender offer for the purpose of cancellation of purchased shares, announced the company in a notice to the Pakistan Stock Exchange.
The notice said, “The duration of the purchase period was thirty days started from Tuesday, 4th May 2021 and ended on Wednesday, June 2, 2021 (both days inclusive).”
“It is hereby confirmed that during the purchase period, shareholders of the Company have offered/surrendered 3,079,703 shares of the Company in the designated Investor Account Service (IAS) account opened with CDC for the purpose of buy-back. As the number of shares offered is less than the number of shares approved to be purchased, the Company has accepted and purchased all the 3,079,703 shares offered by the shareholders for the purposes of cancellation.” The notice further said that the company is in the process of making the payment for accepted shares through pay-orders out of the escrow account opened for the purpose of buy-back. Further, the excess amount deposited by the Company in the escrow account shall be returned to the company.