Public Announcement of Intention to Acquire up to 6.02% of the Issued & Paid-Up Share Capital and Control of Escorts Investment Bank

‌AKD Securities Limited

January 21, 2025

The Executive Director,

Public Offering and Regulated Persons Department,

Securities Market Division,

Securities & Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Blue Area, Islamabad.

The General Manager,

Pakistan Stock Exchange Limited,

Stock Exchange Building, Stock Exchange Road, Karachi.

Basit Rehman Malik, Chief Executive Officer,

Escorts Investment Bank Limited, Ground Floor, 26 - Davis Road, Lahore.

Subject: Public Announcement of Intention to Acquireup to 6.02% of the issued paid-up share capital and control of Escorts Investment Bank Limited under Securities Act, 2015 ("Act") and Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

Dear Sirs,

We, AKD Securities Limited have been appointed as the Manager to the Offer by Mr. Kamran Malik and Mr. Sheikh Ali Baakza (the "Acquirers"), in accordance with regulation 6(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

On behalf of the Acquirer, we are pleased to submit a Public Announcement of Intention to acquire more than 6.02% of the issued and paid-up share capital and control of Escorts Investment Bank Limited ("Target Company"), subject to receipt of the regulatory approvals, if any.

This Public Announcement of Intention is intended to be published in one English and one Urdu language newspaper on January 23, 2026.

Please find enclosed a copy of the Public Announcement of Intention. Should you require any further information or clarification, please feel free to contact the undersigned.

Ja ed, CFA

Seni Associate - Investment Banking

For and on behalf of AKD Securities Limited (Manager to the Offer) Regards,

Vijay K. Kukreja, ACCA, CFA

Deputy Head - Investment Banking

TREC Holder: Pakistan Stock Exchange Limited, Registered Broker: Secur iL eS & Exchange Commission of Pakistan

SSTN S150092 7-7 NTN - 2500927-7

For any queries regarding your account statement please call 111-253-253 or E-mail us: info@akdsl.com

Part A

Part B

1. Information about the acquirer
   1. Name(s) and address(es) of acquirer along with persons acting in concert, if any.

      Name	Address
      Mr. Kamran Malik	98 Chemin Des Hauts Crets Vandouevres 1253, Geneva, Switzerland
      Mr. Sheikh Ali Baakza	52A/2, 9thSunset Street, Phase 2 EXT., D.H.A, Karachi - 75500, Pakistan

   2. Name(s) of the ultimate acquirer or the ultimate controlling shareholder.

      S. No	Name
      1	Mr. Kamran Malik
      2	Mr. Sheikh Ali Baakza

   3. Name(s) and address(s) of manager to the offer of the acquirer.

      Name	Address
      AKD Securities Limited	602, Continental Trade Center, Block 8, Clifton, Karachi

   4. Principal areas of business of the acquirer and relevant experience.

      Mr. Kamran Malik is a highly experienced wealth management professional with a 28-year international career across leading financial institutions, including ABN AMRO, Credit Suisse, Julius Baer, and UBS. He specializes in serving the global South Asian and African diaspora, with experience in the US, Dubai, London, and currently Geneva. His expertise spans investment advisory, securities trading, and financial planning. Mr. Malik holds advanced certifications in wealth management and is pursuing a doctorate in digital currencies, reflecting his commitment to innovation in finance.

      Mr. Sheikh Ali Baakza is an accomplished business executive with extensive experience in international trade, shipping and port logistics, and aviation technology services. As Chairman and Managing Director of the Unicorn Group, he has led operations across multiple sectors, including commodity trading, bulk cargo handling, and airport systems management. His work spans both corporate and government projects, reflecting strong capabilities in leadership, contract negotiation, and strategic operations.

   5. In case the acquirer is a fund / company(s):

      Not applicable

      
      
      
   6. Details of companies where the intended acquirer(s) hold more than thirty percent voting shares:

      Name of Company	Registration No.	Nature (Listed/ Un-Listed/ Private)	Nature of business	Jurisdiction of Incorporation	Description held control/more than thirty % shares of both
      					Name	%	Description
      Northstar International Pvt. Ltd	0029063	Private Limited	Shipping Services	CRO-Karachi		93.91	Director
      Ace International Pvt. Ltd.	0010970	Private Limited	Trading/ Import/Export	CRO-Karachi		99.26	CEO
      Reliance
      Aviation Tech Services Pvt.	0125456	Private Limited	IT Services	CRO-Karachi		49.75	CEO
      Ltd
      Reliance IT solution Pvt. Ltd	0131854	Private Limited	IT Services	CRO-Karachi	Sheikh Ali Baakza	50.00	CEO
      Ace IT solution Pvt. Ltd.	0143459	Private Limited	IT Services	CRO-Karachi		50.00	CEO
      Unicorn Commodities Pvt. Ltd	66680	Private Limited	Commodity Broker	CRO-Karachi		99.95	CEO
      Agro Allianz Limited	0002633	Public/ Listed/ Non- Compliant	Trading/ Import/Export (Proposed)	CRO-Karachi		47.00	CEO

   7. Information about ultimate beneficial owner of the intended acquirer(s): -

      1. Name(s) of the natural person(s), CNIC/Passport Number, nationality and address of each person.

         S. No	Name	CNIC	Nationality	Address
         1.	Kamran Malik	35201-4673330-5	Pakistani	98 Chemin Des Hauts Crets Vandouevres 1253, Geneva, Switzerland
         2.	Sheikh Ali Baakza	42301-5143765-1	Pakistani	52A/2, 9thSunset Street, Phase 2 EXT., D.H.A, Karachi - 75500, Pakistan

         
         
         

      2. Details of companies located in and outside Pakistan, where the ultimate acquirer or the ultimate controlling shareholder held control and or more than thirty percent voting shares:

         Name of Company	Registrat ion No.	Nature (Listed/ Un-Listed/ Private)	Nature of business	Jurisdiction of Incorporation	Description held control/more than thirty % shares of both
         					Name	%	Description
         Northstar International Pvt. Ltd	0029063	Private Limited	Shipping Services	CRO-Karachi	Sheikh Ali Baakza	93.91	Director
         Ace International Pvt. Ltd.	0010970	Private Limited	Trading/ Import/Export	CRO-Karachi		99.26	CEO
         Reliance Aviation Tech Services Pvt. Ltd	0125456	Private Limited	IT Services	CRO-Karachi		49.75	CEO
         Reliance IT solution Pvt. Ltd	0131854	Private Limited	IT Services	CRO-Karachi		50.00	CEO
         Ace IT solution Pvt. Ltd.	0143459	Private Limited	IT Services	CRO-Karachi		50.00	CEO
         Unicorn Commodities Pvt. Ltd	66680	Private Limited	Commodity Broker	CRO-Karachi		99.95	CEO
         Agro Allianz Limited	0002633	Public/ Listed/ Non- Compliant	Trading/ Import/Export (Proposed)	CRO-Karachi		47.00	CEO

   8. details of any existing holding of voting rights in the target company

   9. which the acquirer owns or over which it has control or direction

      None

      1. which is owned or controlled or directed by any person acting in concert with the of acquirer

         None

      2. in respect of which the acquirer or any person acting in concert with him has received an irrevocable commitment to accept the takeover offer; and in respect of which the acquirer or any person acting in concert with him holds an option to purchase or warrants or other convertible securities.

      None (i) All conditions (including normal conditions relating to acceptance, listing and increase of capital) to which the public offer or the posting of it is subject.
      
      
      

      The completion of the proposed acquisition shall be subject to, inter alia, receipt of all requisite regulatory and other corporate approvals including approval(s) from the SECP and the Board of Directors of the Target Company.

      Part C

2. Information about the target company
   1. Name of the target company, its directors, and major shareholders along with number of shares and percentage of paid-up capital.
      • Name of the Target Company: Escorts Investment Bank Limited
      • Names of Directors of the Target Company:

        S. No	Name of Directors	Position
        1	Syed Tahir Nawazish	Chairman
        2	Mr. Basit Rehman Malik	Director/CEO
        3	Ms. Madiha Arooj	Director
        4	Mr. Muhammad Rasheed Alam	Director

      • Major Shareholders (as of June 30, 2025)

      S. No	Shareholder Name	Shares	Shareholding %
      1	Bahria Town (Private) Limited	119,279,077	87.9639%
      2	General Public (Local)	16,289,974	12.0133%
      3	Others	30,949	0.0228%
      Total		135,600,000	100.00%

   2. Total number of issued shares of the company.

      Total number of issues shares: 135,600,000 ordinary shares of PKR 10/- each

   3. Date of listing and offer price at the time of initial public offering
      • Date of listing: 1996
      • Offer Price: Not available.
   4. Opening price at securities exchange at time of listing

      The opening price is not available

   5. Share price quoted on the securities exchange one day before the public announcement of intention.

      The share price of the Target Company at the close of market hours on January 20, 2026, was PKR

      24.36 per share.

   6. The weighted average share price as quoted on the securities exchange during twenty-eight days (28) days preceding the date of public announcement of intention.

      The weighted average share price of the Target Company during twenty-eight days (28) days preceding the date of public announcement of intention was PKR 20.69 per share.

      
      
      
   7. Financial position/performance of the Company for the last five years, including profit/loss after tax, earning per share, payouts.

Any questions regarding this announcement can be directed at:

Manager to the Offer:

602, Continental Trade Centre, Block 8, Clifton Karachi, Pakistan

For and on behalf of Acquirers:

20/01/2026