ALSHAHEER
FOODS
Red ASCL/25-26/-------
September 8, 2025 The General Manager;
The Pakistan Stock Exchange Limited, Stock Exchange Building,
Stock Exchange Road,
Karachi
Subject: Disclosureof Material Information
Deal Six,
In accordance with Clause 5.6.1(a) of the PSX Rule Book and for the information of the shareholders and the general public, Al Shaheer Corporation Limited (the "Company") hereby discloses the following material developments:
Removal of Caution on the operation of the Company's bank accounts by the SECP
The Securities and Exchange Commission of Pakistan (SECP) has removed the caution previously imposed on tlJe operation of the Company's bank accounts. This development reflects positively on the Coiiipany's compliance shirts and intenial governance practices.
Order l'i oni SBP Adjudication Court
'rhe Adjudication Court of the State Bank of Pakistan has concluded proceedings concerning the non-repatriation of export proceeds. It has been observed that the new management is not involved in day-to-day operations of the business at the time of performing export transactions, hence respons Abilities regarding non-repatriation of export proceeds in the instant cases may not be shifted on the new management. The Court has held that the responsibility for repatriating foreign exchange lies with the Company and its former CEO/Director. Accordingly, the Coui't has iiiiposed a penalty of PKR 7 million on the Company and PKR 5 million on the t'oi'iner CEO/Director. "Fhe Coiripany is currently reviewing the order in consultation with its lebal advisors to detei'inine an appropriate course of action.
Settleiiient rind Rescheduling of Bauii Loans
"Flue Company has successfully entered into settlement agreements with several of' its financial institutions. Additionaliy, outstanding loans have been rescheduled, thereby improving the Company's liquidity position and supporting long-term operational sustainability.
Operational Revump and Resumption of Production
The Management lms under taken significant restructuring of its business operations. As a result, the Coin pany has successfully resuiiied production at both of its manufacturing facilities. This mans a key milestone in the operational turnaround and is expected to enhance revenue penei'ofioii going forward.
Al Shaheer Corporation Limited
Suite # G/5/5, 3rd Floor, Mansoor Tower, Block 8, Shahrah-e-Roomi, Clifton, Karachi.
Office: +92-21-38781100
Fizx: +92-21-35877017
Web: https://www.ascfoods.com
FOODS
ALSHAHEER
"the above dcvclopments arc expected to have a material impact on the business operations and financial
outlook ofthe Company.
ITegard
him' cd
Ghulam Far
(Chief Executive (H i
CC:
Director/ HOD
Surveillance, Su on and 1» rorccircnt I9cpattment;
Sccuri ie xchange Commission of l•akistan N uilding, 63-JinnnI1Avcnuc,
'Dlue Area, Islamabad
AI Shaheer Corporation Limited
Suite # G/5/5, 3rd Floor, Mansoor Tower, Block 8, Shahrah-e-Roomi, Clifton, Karachi.
Office: +92-21-38781100
Fax: +92-21-35877017
Web: https://www.ascfoods.com