Estd. 1957
January 05, 2026
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi.
Subject: Withdrawal of Public Announcement of Intention to acquire additional38% shares of SG Power Limited (the "Tareet") bv Crescent Star Insurance Limited (the "Acquirer") under the securities Act, 2015 and The Listed Companies (Substantial Acquisition of Votine Shares and Takeover) Regulations, 2017
Dear Sir,
Please find attached the announcement issued by Intermarket Securities Limited on our behalf regarding the withdrawal of the Public Announcement of Intention ("PAI") of Ci'escent Star Insurance Limited in relation to the acquisition of an additional 38% voting shares and control of SG Power Limited.
Yours faithfully, For an on half of
Crescent t Insurance Limited
Malik Mehdi Muhammad
Chief Financial Officer/Company Secretary
Head Office: 2ndFloor, Nadir House, I.I Chundrigar Road, Karachi - 74000, Pakistan
UAN : +92-21-111-274-000 PABX: +92-21-32415471-3 Fax : +92-21-32415474 E-mail : info@cstarinsurance.com
January 05, 2026
Executive Director
Public Offering & Regulated PerSons Department Securities Market Division
Securities 8 Exchange
COM/Ylission of Pakistan
NIC Building, J‹nnah Avenue, Blue Area, Islamabad
Generel Manager
PBkistan Stgck Exchange
Limited
5tOCk Exchange Building StOCk Exchange Road KBrachi
Mr. Sohail Ahmed
Director and Chief Executive
Officer
S.G Power Limited B60, S.I.T.E Karachi
Subject:
off hd w Pub A n n emen nte on b C e e t St u an
Limited for S.G. PoW6r I-imlted
of' our client, Crescent Star Insurance Limited (the "Acquirer"), we, Jntermarket
.Limited, as Mann gear tr› fts Ojfer, hereby submit tlio Acqutrer's ariiit›uncement to withdraw its intention to acquire additiot)BI 38% of the issued and outstanding orilinary shares and control of S.G. I•ower Limited (the "'I'arget").
The Acquirer's Puhli‹ AnttounceineHt oflnlention to acquire additional shares and contr‹›l of the l'argel
€.ompany was ptibllshcd lft HU J3usiness Recorder (English) and Roznoma Dunya (Urdu) newspapers on August 15, 2025. However, due to unsuccessful negotiations with the seller. it is no longer feasible for the Acquirer to continue with the intended takeover.
Accr›rdingly, the Acquirer hereby withdrâws its intention to acquire additional 38%› of the issued and outstaii‹ling ordinary shares and control of SC• Power Limited under Regulation 21(1)(b) of'
As required utider ltegulation 21(2) of the Regulations, a withdrawal notice in this respect shall be published ili the business Recorder (English) and Romania Dunyu (Crdu) newspapers on January 06, 2026 as prescribed under the Regulations.
Plca'iu contact the undersigned for any additional information or clarification.
f''cr und on behalf of latcrinurket Securities Limited
[6Iuriu¿jui tt› Ihc ñ7/6r)
...................
......................... -
tbror Korejo
fi, Manager - lnvestiiient I3onkin¿
lntemi‹irket Securities 1-imiteil
Crescent Stai Insurance tim‹t«'
Estd. 1957
January 05, 2026
To,
Intermarket Securitiés
Bahria Complex-IV, 5th Floor
Ext. Block, Ch. KhaIique-uz-Zaman Road Gizri ICaraclii.
Subject: WithtlPRWltI of Public Announcement of Intention to acquire additional 38% shares of SG Power Limited (the "Taree b Crescent Star Insurance Limited fthe "Acouirer") under the securities Act, 2015 and The Listed Companies fSubstalltfRl Acquisition of Votine Shares and Takeover) Regulations, 2017
Dear Sir,
This is with reference to the Public Announcement of Intention ("PAI") made by Intermarket Securities Limited on behalf of Crescent Star Insurance Limited in relations to the Acquisition of additional 38% voting shares and control of SG Power Limited Published in Business Recorder and Roznama Dunya on August 15, 2025.We hereby inform you that we have decided to withdraw the Public Intention as the negotiations to acquire additional 38% voting shares of the target company did not materialize.
You are requested to kindly announce the withdrawal of the Public Intention.
Yours faithfully, For an on behalf of
Cr ent Star Insurance Limited
Ma'ekM:h
dcMOf' cerado p y Secretary
Head Office: 2'dFloor, Nadir House, I.I Chundrigar Road, Karachi - 74000, Pakistan
UAN : +92-21-111-274-000 PABX: +92-21-32415471-3 Fax : +92-21-32415474 E-mail : info@cstarinsurance.com
Nation Wide Network of branches