Material information of Aisha Steel Mills Limited

Karachi, Aisha Steel Mills Limited informed Pakistan Stock Exchange that pursuant to a share purchase agreement executed on March 31, 2016 by Arif Habib Group with Metal One Corporation (Japan) the proposed Seller), it has been agreed that subject to satisfaction of certain conditions, Mr. Mohammad Arif Habib will individually acquire ordinary shares of the proposed seller in the company at a price of Rs.0.50 per share with intention of writing off and surrendering all the acquired shares of the proposed seller to the company.

Aisha Steel Mills Limited is a company incorporated in Pakistan on May 30, 2005. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activities of the business are supplying cold rolled steel coils to local and international customers. The company has entered into a strategic tie-up with Mitsubishi Corporation and ensures seamless marketing, sales, and distribution of its products. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located at Karachi.

The company is a joint venture between blue chip Pakistani and Japanese business groups which are Arif Habib Group, Pakistan Metal One Corporation, Japan, and Universal Metal Corporation, Japan. The capacity of the plant is 220,000 metric tons per year.

The symbol “ASL” is being used by the stock exchanges for the shares of Aisha Steel Mills Limited.