Акционеры Bestway Cement отвергли предложение по выкупу акций дочерней компании Bestway Automotive

Акционеры Bestway Cement Limited отклонили предложение о выкупе акций своей дочерней структуры Bestway Automotive, что позволило последней самостоятельно распределить права на новые акции. В результате Bestway Automotive получила право передать эти права третьим лицам или другим компаниям группы, что может привести к потере контроля со стороны Bestway Cement над автосборщиком.

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The shareholders of Bestway Cement Limited (PSX: BWCL) have rejected a share offer from its subsidiary, Bestway Automotive (Private) Limited (BAL). Following the rejection, BAL can now allot those shares to anyone, including another company within the Bestway Group, according to the Tuesday stock filing. “Resultantly, BAL has the discretion to allot the Right Shares to another party including any Bestway Group Company in accordance with the law. The allotment of the Right Shares to another party will result in BAL ceasing to be a subsidiary of the Company,” the filing stated. Currently, BAL is a wholly owned subsidiary of Bestway Cement Limited that assembles, markets, and distributes vehicles in Pakistan. Importantly, the filing does not say who will get the shares or exactly how the ownership will change. It only says that allotting the shares to another party will result in BAL ceasing to be a subsidiary of Bestway Cement. With the shareholders rejecting the offer, Bestway Automotive will have the discretion to allot the rights shares to another party, including a company within the Bestway Group, in accordance with applicable laws. The filing did not identify the potential recipient of the shares or provide details of the size or value of the proposed allotment. Why the offer matters The offer matters because accepting the new shares would have allowed Bestway Cement to maintain its ownership and control of BAL. By rejecting the offer, shareholders have opened the possibility of those shares being allotted to someone else. If BAL allots the shares to another party, including another Bestway Group company, the resulting change in ownership would mean Bestway Cement may no longer controls BAL. BAL would therefore cease to be a subsidiary of Bestway Cement. Stay Connected with ProPakistani Get the latest business news, market insights, and economic updates wherever you prefer. Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.