Nishat Mills Limited’s withdrawal of public announcement of intention (regulation 17 of listed companies (substantial acquisition of voting shares and takeovers) regulations, 2008)

Karachi, July 25, 2012 (PPI-OT): Please refer to our letter No. Exchanges/2012/1077 dated June 11, 2012 and KASB Bank Limited’s letter dated June 11, 2012 with reference to the Public Announcement of Intention (“PAoI”) made by Nishat Mills Limited (NML) (“Nishat Mills”) on June 11, 2012 for the proposed acquisition of a 75.81% stake in ICI Pakistan Limited (“ICIP”) and subsequent advertisement in Daily Business Recorder and Daily Nawa-i-Waqt on June 13, 2012.

In accordance with Regulation 17(1)(c) of the Listed Companies (Substantial Acquisition of Voting Shares and Take-Overs) Regulations 2008, we are hereby inform you that Nishat Mills is withdrawing the PAoI as the target entity did not provide much synergies to its existing business lines.

The withdrawal notice under Regulation 17 of Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008 is attached for circulation and information of all concerned.

Notice of Withdrawal of Public Announcement of Intention

Under Regulation 17 of Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2008

This is for information of all concerned that with reference to the Public Announcement of intention (“PAoI”) made by Nishat Mills Limited (“Nishat Mills”) on June 13, 2012 for the proposed acquisition of a 75.81% stake in ICI Pakistan Limited (“ICIP”) in Daily Business Recorder and Daily Nawa-i-Waqt.

In accordance with Regulation 17(1)(c) of the Listed Companies (Substantial Acquisition of Voting Shares and Take-Overs) Regulations 2008, we do hereby inform you that Nishat Mills is withdrawing the PAoI as the target entity did not provide much synergies to its existing business lines.

For more information, Contact:
Khalid Mahmood Chohan
Company Secretary
Khalid Mahmood Chohan
Company Secretary
Nishat Mills Limited
7- Main Gulberg Lahore, Pakistan.
UAN: 111 33 22 00
Tel: 92-42-35716351-59
Fax: 92-42-35716350
E-mail: nishat@nishatmills.com