Gadoon Textile Mills Limited’s material information

Karachi, July 30, 2012 (PPI-OT): We are pleased to inform that Gadoon Textile Mills Limited (GADT) in consortium with other group entities of Yunus Brothers Group has jointly signed a share purchase agreement with ICI Omicron B.V. a wholly owned subsidiary of Akzo Noble N.V., Netherlands for the acquisition of a 75.81 percent shareholding in ICI Pakistan Limited, a company listed on all Stock Exchanges in Pakistan, at a bid value of US $ 152.5 million (payable in equivalent Pak Rupees) which will be subject to certain adjustments based on lock box mechanism for cash and indebtedness to be ascertained as per the terms of the referred agreement.

The shares purchase transaction is expected to be completed once all Regulatory approvals have been obtained and the public tender offer as per the requirements of Listed Companies (Substantial Acquisitions of Voting Shares and Takeovers) Regulations 2008 has been completed.

The final shares purchase consideration will be notified, once it has been determined as per the terms of the referred agreement.

This is for the information and circulation to the members of your exchange(s).

For more information, Contact:
Muhammad Abid Ganatra
Company Secretary
Gadoon Textile Mills Limited
6-A Muhammad Ali Housing Society,
Abdul Aziz Haji Hashim Tabba Street,
Karachi- 75350, Pakistan
Tel: (92-21) 34397701-03
Fax: (92-21) 34382436