External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Event-Driven

<ul><li>Maple Leaf Cement (MLCF) in a notice today to exchange has announced the possible acquisition of Pioneer Cement (PIOC).</li><li>Currently, MLCF, together with Maple Leaf Capital (MLCL), currently owns 18.6% of PIOC. While Habibullah group owns around 58% of the company through multiple holdings. While remaining stake is with general public.</li><li>If the acquisition proceeds, MLCF’s total capacity and market position will be significantly enhanced to 13.02mn tons from current 8mn tons as PIOC has the capacity of 5.2mn tons. The capacity-based market share of the company in north region will increase from 12% to 19%.</li></ul>

Maple Leaf Cement (MLCF) in a notice today to exchange has announced the possible acquisition of Pioneer Cement (PIOC).Currently, MLCF, together with Maple Leaf Capital (MLCL), currently owns 18.6% of PIOC. While Habibullah group owns around 58% of the company through multiple holdings. While remaining stake is with general public.If the acquisition proceeds, MLCF’s total capacity and market position will be significantly enhanced to 13.02mn tons from current 8mn tons as PIOC has the capacity of 5.2mn tons. The capacity-based market share of the company in north region will increase from 12% to 19%.

Topline Flash Note: Maple Leaf Cement (MLCF) - MLCF Likely Acquisition of PIOC; Maple to Become Second Largest Cement Player in North

Maple Leaf Cement Factory

Topline Flash Note: Maple Leaf Cement (MLCF) - MLCF Likely Acquisition of PIOC; Maple to Become Second Largest Cement Player in North