LSE SPAC-II Limited has acquired 269,000 ordinary shares in M.P. Industries Limited (MPIL) for a total consideration of Rs180 million, completing an investment that was previously approved by the company’s shareholders. The transaction will give LSE SPAC-II a 15% stake in M.P. Industries’ post-issuance paid-up share capital. The latest development was disclosed by LSE SPAC-II to the Pakistan Stock Exchange (PSX), providing details of the share acquisition and the payment made for the investment.
The investment received shareholder approval through a special resolution passed at the Annual General Meeting (AGM) of LSE SPAC-II held on September 19, 2026. Under the approved arrangement, the company was authorised to subscribe to sufficient ordinary shares of M.P. Industries to achieve a 15% holding in the company’s paid-up share capital following the issuance of the new shares. The transaction was to be carried out according to terms and conditions approved by the Board of Directors.
Following the shareholder approval, LSE SPAC-II completed the acquisition of 269,000 ordinary shares in M.P. Industries. The company disclosed that the shares were acquired for Rs180 million, representing the total consideration for the transaction. The acquisition forms part of the investment arrangement approved at the AGM and establishes LSE SPAC-II’s planned ownership position in M.P. Industries following the relevant share issuance.
LSE SPAC-II also disclosed the date on which payment for the shares was completed. According to the company’s latest filing with the PSX, the payment of Rs180 million was made on September 24, 2026, one day before the disclosure was issued. The completion of payment represents the financial settlement of the share acquisition and follows the shareholder authorisation granted during the September 19 AGM.
The company stated that the investment was undertaken in accordance with the approval granted by its shareholders. LSE SPAC-II further confirmed that the transaction was carried out in line with applicable laws, rules, regulations and other relevant regulatory requirements. The disclosure to the PSX provides the market with details of the number of shares acquired, the consideration paid and the ownership level targeted under the approved arrangement.
The transaction gives LSE SPAC-II an identified ownership interest in M.P. Industries while completing an investment process that began with shareholder approval earlier in September. The acquisition of 269,000 ordinary shares for Rs180 million represents the implementation of the special resolution approved at the AGM and is intended to result in a 15% stake in M.P. Industries’ post-issuance paid-up share capital.
The latest disclosure also reflects the sequence of the transaction, with shareholder approval secured on September 19, payment completed on September 24 and the acquisition subsequently disclosed to the Pakistan Stock Exchange. LSE SPAC-II said the investment was made within the framework approved by shareholders and subject to the applicable regulatory requirements governing the transaction.
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