KARACHI: Saudi Pak Consultancy Company Limited (PSX: SPCL) has informed the Pakistan Stock Exchange (PSX) that a corrigendum has been issued to the Public Announcement of Intention (PAI) relating to the proposed acquisition of a 35.06% stake and management control of the company by JD Taurus (Private) Limited.
According to the company’s disclosure, the corrigendum was issued after Intermarket Securities Limited, acting as the manager to the acquirer, notified the company that amendments had been incorporated in response to observations communicated by the Securities and Exchange Commission of Pakistan (SECP). The revisions relate solely to the matters highlighted by the regulator, while all other terms, conditions, and disclosures contained in the original PAI dated May 15, 2026, remain unchanged.
The company stated that the corrigendum has been published in both English and Urdu newspapers in compliance with the applicable provisions of the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. Copies of the amended public announcement have also been submitted to the relevant authorities and disseminated through PUCARS for the information of shareholders and investors.
As outlined in the published corrigendum, the amendments primarily clarify that the acquisition is being undertaken in accordance with the applicable takeover regulations rather than under any specific SECP directive. The revised notice also explains that references to regulatory approvals should not be interpreted as approvals from the SECP itself, but rather as any permissions that may be required from relevant regulatory bodies depending on the nature of the target company’s business.
In addition, the corrigendum updates certain disclosures regarding JD Taurus (Private) Limited and entities in which its ultimate controlling shareholder holds significant ownership interests. These amendments are intended to ensure full compliance with disclosure requirements under the takeover regulations while maintaining transparency for the investing public.
The proposed transaction involves JD Taurus (Private) Limited’s plan to acquire approximately 15.84 million ordinary shares, representing 35.06% of the issued and paid-up share capital of Saudi Pak Consultancy Company Limited, along with management control of the company. The latest corrigendum does not alter the proposed acquisition itself but serves to align the public announcement with the regulator’s observations.
