Lahore, April 20, 2026: Mitchell’s Fruit Farms Limited has completed the subscription process for its rights issue, with the company receiving Rs500.000 million against the issuance of 2,777,778 ordinary shares.

According to a company letter addressed to the Pakistan Stock Exchange (PSX), the entire rights subscription has been received. The company has therefore requested the issuance of a No Objection Certificate (NOC) in favour of the bankers handling the issue and the Central Depository Company of Pakistan Limited (CDC) for the release of the subscription funds.

Rights Shares Issued at Rs180 Each

The auditors’ certificate issued by Crowe Hussain Chaudhury & Co. confirms that Mitchell’s Fruit Farms issued 2,777,778 rights shares with a face value of Rs10 per share at an issue price of Rs180 per share. This included a premium of Rs170 per share, generating total subscription proceeds of Rs500,000,040.

The auditors verified the relevant bank statements and subscription receipts as part of their procedures. Of the total shares subscribed, 2,767,493 shares were subscribed by the company’s directors and substantial shareholders through the designated bank, while 6,145 shares were subscribed by the general public through the designated bank. A further 4,140 shares were subscribed by the general public through CDC’s online payment option.

Paid-Up Capital Increased to Rs256.53 Million

Following the rights issue, Mitchell’s Fruit Farms’ paid-up capital increased substantially.

Before the new issue, the company had 22,875,000 shares, representing paid-up capital of Rs228.75 million. The issuance of 2,777,778 additional shares increased the total number of shares to 25,652,778, taking revised paid-up capital to approximately Rs256.53 million at a face value of Rs10 per share.

The successful completion of the rights issue provides the company with the full amount targeted under the subscription, while also increasing its equity base.

Next Regulatory Steps

The auditors noted that management had represented that the requirements concerning the deposit of the rights shares with CDC, as specified under the applicable CDS Standard Operating Procedures, had been fulfilled.

The company is also expected to complete the required legal compliance, including filing Form-3, Return of Allotment of Shares, in due course under the applicable law.

The certificate was issued specifically for submission to the CDC and PSX and was restricted to the facts stated in the document.