LSE SPAC-II Board recommends Rs180m investment in M.P. Industries

Mettis Global reported that the board of LSE SPAC-II Limited (PSX:SPAC2) has recommended putting about Rs180 million into M.P. Industries Limited (MPIL). Under the proposal, SPAC2 would subscribe to 269,000 ordinary shares of MPIL at Rs669.14 each, which would give it close to 15 per cent of the company's post-issue paid-up capital. The decision was taken on Monday, August 17, 2026, after the board reviewed due diligence and other relevant information about MPIL.

The investment still needs shareholder approval through a special resolution, along with later corporate steps under the SPAC regulations. SPAC2 has called its annual general meeting for Saturday, September 19, 2026, at 9:30 a.m. at its registered office in Lahore to seek that approval. The notice of the meeting, along with the statement of material facts and the information circular, will be circulated or filed at a later date. The details were disseminated to the Exchange through a notification.