KARACHI: The Board of Directors of Wyeth Pakistan Limited has resolved to delist the company from the Pakistan Stock Exchange (PSX) under Voluntary Delisting Rules of PSX.

According to material information sent to PSX, a meeting of the Board of Directors of Wyeth Pakistan Limited held at its office located at Dockyard Road, West Wharf to consider the delisting of the shares of the Company under rule 5.14 of Voluntary Delisting Rules of the PSX Rule Book pursuant to the notice received from Wyeth LLC, USA (which has been disclosed by the Company).

The Board of Directors of the Company has resolved to delist the Company from the PSX under rule 5.14 of Voluntary Delisting Rules of the PSX Rule Book, for which the Company shall submit a formal application to the PSX and commence steps in accordance with the Rule Book, and for which Wyeth LLC, USA, the majority shareholder of the Company, intends to buy back the ordinary shares held by the minority shareholders of the Company, barring those held by Wyeth Holding LLC, previously Wyeth Holdings Corporation, USA, being an affiliate of Wyeth LLC, USA, (who will continue to hold securities and shares in the de-listed entity) at a price to be determined in accordance with the Rule Book.

Copyright Business Recorder, 2021