Pakistan Services Clarifies It Is Not Party to Proposed Restructuring Agreement Between Thatta Cement and Fauji Foundation
Pakistan Services Limited (PSL) has clarified that it has neither been notified of nor is aware of any definitive agreement between Thatta Cement Company Limited (THCCL) and Fauji Foundation regarding the proposed restructuring of the company.
In a material information disclosure submitted to the Pakistan Stock Exchange (PSX) on November 12, 2026, Pakistan Services Limited addressed a previous announcement made by Thatta Cement Company Limited on November 11, 2026.
Thatta Cement’s disclosure had referred to the execution of a definitive agreement with Fauji Foundation in connection with the proposed restructuring of Pakistan Services Limited. The proposed arrangement remains subject to the required corporate, regulatory and other approvals.
However, Pakistan Services Limited clarified that it had not received any notification regarding the execution of such an agreement and was not aware of its signing. The company further stated that it is not a party to the definitive agreement mentioned in Thatta Cement’s announcement.
The clarification was issued in accordance with Section 96 of the Securities Act, 2015, read together with Clause 5.6.1 of the Pakistan Stock Exchange Rule Book.
Pakistan Services Limited also informed the exchange that it would make further disclosures whenever any significant development occurs or when information requiring disclosure becomes available, in line with applicable statutory and regulatory requirements.
The company requested the Pakistan Stock Exchange to circulate its clarification among certificate holders and take the information on record.
The disclosure was signed by Muhammad Amir, Company Secretary of Pakistan Services Limited.
The clarification highlights that Pakistan Services Limited has not confirmed its involvement in the reported agreement between Thatta Cement and Fauji Foundation, and any further developments regarding the proposed restructuring will be communicated through the appropriate regulatory channels.
