Mitchells Fruit Farms Approves Allocation of Unsubscribed Right Shares to CCL Holdings

Mitchells Fruit Farms Limited has approved the allocation of the unsubscribed portion of its recent Right Issue to CCL Holdings Pvt. Limited, according to extracts of resolutions passed by the company’s Board of Directors at its Emergent Board Meeting held on April 16, 2026, in Lahore.

The company had undertaken a Right Issue comprising 2,777,778 ordinary shares at a price of PKR 180 per share, including a premium of PKR 170 per share. The total value of the Right Issue was approximately PKR 500 million.

According to the subscription results presented to the Board, 2,210,247 right shares were subscribed during the Right Issue process, generating proceeds of approximately PKR 397.84 million for the company.

As a result, 567,531 right shares remained unsubscribed. These shares represented an amount of approximately PKR 102.16 million at the issue price of PKR 180 per share.

The Board noted that, under the applicable provisions of the Companies Act, 2017, as well as the Companies (Further Issue of Shares) Regulations, 2020 and the relevant rules of the Pakistan Stock Exchange, the company could make arrangements for the allocation of the unsubscribed shares.

In this regard, CCL Holdings Pvt. Limited had expressed its intention to potentially subscribe for the entire block of 567,531 unsubscribed right shares. The Board subsequently resolved to offer these shares to CCL Holdings at the same price of Rs. 180 per share.

The Board further approved the allotment of the entire 2,777,778 right shares, including the unsubscribed portion, in favour of the respective subscribers.

The resolution also authorized the company’s Chief Executive Officer, Chief Financial Officer and Company Secretary to undertake all necessary actions, documentation, disclosures and regulatory filings required to complete the Right Issue process and give effect to the Board’s decision.

The development marks the next step in Mitchells Fruit Farms’ Right Issue process and will allow the company to place the previously unsubscribed shares while completing the planned issuance.