Voluntary Delisting

Shield Corporation Limited, one of Pakistan’s leading manufacturers of baby care and oral care products, will officially be delisted from the Pakistan Stock Exchange (PSX) on July 27, 2026, after the exchange approved the company’s voluntary delisting request. The move follows the completion of the sponsor buyback process, allowing the company to exit the stock market after nearly five decades as a listed entity. Minority shareholders who still own shares will continue to have the opportunity to sell them to the sponsors at a fixed price until July 2027. PSX Approves Shield Corporation’s Voluntary Delisting The Pakistan Stock Exchange has accepted Shield Corporation’s application for voluntary delisting after the company fulfilled all regulatory requirements. According to the PSX notice issued on July 23, 2026, the company’s shares will be removed from the exchange with effect from Monday, July 27, 2026, under Regulation 5.14 of the PSX Regulations and Section 19(5) of the Securities Act, 2015. The notice was also shared with the Securities and Exchange Commission of Pakistan (SECP), the Central Depository Company (CDC), the National Clearing Company of Pakistan Limited (NCCPL), and the company’s purchase agent. Shareholders Can Still Sell Shares at Rs750 Each Although the company will no longer be listed on the PSX, minority shareholders who continue to hold Shield Corporation shares can still sell them to the sponsors. The sponsors have committed to purchasing all remaining shares at Rs750 per share, with Arif Habib Limited serving as the official purchase agent. The buyback offer will remain valid until July 16, 2027, giving shareholders who did not participate during the initial buyback period another opportunity to exit their investment. The original buyback window was open from May 18 to July 16, 2026, while the company completed all voluntary delisting requirements on July 18, 2026. Company to Continue Operations as a Private Entity Established in 1975 and headquartered in Karachi, Shield Corporation is widely known for manufacturing baby care and oral care products, including baby feeders, nipples, soothers, teethers, toothbrushes, and other hygiene items. The company had previously discontinued its diaper manufacturing business after reviewing production costs and market conditions. Shield Corporation operates as a subsidiary of PharmEvo and has exported its products to several markets across Asia, Europe, and Africa. Following the delisting, the company will continue operating as a privately held business with a focus on its core product portfolio. Delisting Aims to Improve Operational Efficiency The decision to delist comes after a period of weak stock market performance. Low average daily trading volumes, consecutive financial losses in recent years, and the absence of dividend payments since 2021 were among the factors that contributed to the company’s decision to leave the stock market. By becoming a private company, Shield Corporation aims to reduce regulatory compliance costs and focus on improving operational efficiency and long-term business performance. Minority shareholders who still wish to sell their shares can contact Arif Habib Limited, the designated purchase agent, before the buyback offer expires in July 2027. The delisting marks the end of Shield Corporation’s public listing, concluding a presence on Pakistan’s capital market that spanned nearly 50 years.