June 10, 2023
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Karachi - 74000, Pakistan
Dear Sir,
Material Information - Merger Negotiations Between
Apna Microfinance Bank Ltd and
FINCA Microfinance Bank Ltd
In accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited.
We would like to inform you that the proposed merger negotiations between FINCA Microfinance Bank Limited and Apna Microfinance Bank Ltd have been stopped. This decision comes after both parties completed the reciprocal due diligence process.
Further, the APNA is exploring other opportunities to secure the interest of its stakeholders, depositors, borrowers, regulator, partners, and the staff.
Regards
For and on behalf of
Apna Microfinance Bank Limited
Rafat Abbas
Company Secretary