CSAPL/CS-08/319
August 21, 2024
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.
Dear Sir,
SUBJECT: PRICE SENSITIVE INFORMATION
In accordance with the requirements of the PSX Rule Book read with applicable provisions of the Securities Act, 2015, we have to inform you that Crescent Steel and Allied Products Limited has agreed with China Harbour Engineering Company Limited (CHEC) - Al-Fajr International (AFI) Joint Venture (JV) to manufacture and supply an additional quantity of coated pipes (Hot Rolled Coils will be provided by the client) in its existing contract. Through this revision, we shall supply an additional quantity of 65,000 meters of coated steel line pipes for the K-IV project, the Greater Karachi Bulk Water Supply Scheme. Consequently, the total order value will increase from PKR 5,886 million to PKR 8,595 million. Manufacturing is expected to commence in the second quarter of the current financial year and shall be completed, hopefully, by the second quarter of the next financial year. The scheduling and some other conditions are, however, being finalized.
Disclosure Form is attached herewith.
Thanking you,
Yours truly,
Crescent Steel and Allied Products Limited
Azeem Sarwar, FCA
Company Secretary
Copy to:
Securities and Exchange Commission of Pakistan,
NIC Building, Blue Area,
63-Jinnah Avenue,
Islamabad.
DISCLOSURE FORM | |
Securities Act, 2015 | |
Lahore, August 21, 2024 | |
Name of the Company: | Crescent Steel and Allied Products Limited |
Date of Report: | August 21, 2024 |
Address: | E- Floor, IT Tower, 73-E/1, Hali Road, Gulberg III, Lahore |
Notification under PSX Rule Book regarding Price Sensitive/Material Information
In accordance with the requirements of the PSX Rule Book read with applicable provisions of the Securities Act, 2015, we have to inform you that Crescent Steel and Allied Products Limited has agreed with China Harbour Engineering Company Limited (CHEC) - Al-Fajr International (AFI) Joint Venture (JV) to manufacture and supply an additional quantity of coated pipes (Hot Rolled Coils will be provided by the client) in its existing contract. Through this revision, we shall supply an additional quantity of 65,000 meters of coated steel line pipes for the K-IV project, the Greater Karachi Bulk Water Supply Scheme. Consequently, the total order value will increase from PKR 5,886 million to PKR 8,595 million. Manufacturing is expected to commence in the second quarter of the current financial year and shall be completed, hopefully, by the second quarter of the next financial year. The scheduling and some other conditions are, however, being finalized.
SIGNATURES
In the case of the company, pursuant to the requirements of the Securities Exchange Ordinance, 1969(XVII of 1969), the company has duly caused this form/statement to be signed/on its behalf by the undersigned hereunto duly authorized.
Azeem Sarwar, FCA
Company Secretary
Date: August 21, 2024