The board of directors of Propel Limited (PL), a listed company, has taken the following decisions in its recent meeting: (1) (ii) Sell-off entire investment in Adam Limited (AL), one of PL's most profitable associated companies, at a premium of 30% above market value. For the last five years, AL has consistently been contributing 80% of PL's total income. Purchase 70% stake in Mina Limited (ML), listed on Pakistan Stock Exchange Limited, which is a direct competitor of AL. The board is confident that PL is capable of successfully rebranding ML's product line and surpassing AL's market position in no time. During the board meeting, one of the directors showed his concern that if PL is not able to successfully rebrand the ML's product line, it would drastically reduce PL's own operations. However, the board remained quite optimistic of ML's success in view of profit forecasts and management's competence. Required: (a) In the light of Companies Act, 2017 comment whether the directors are exclusively entitled to take the above strategic decisions. Also, briefly describe further approvals or requirements, if any, attached to these decisions. (b) In the light of Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 discuss any seven obligations of PL, being an acquirer of substantial stake in ML, in respect of public announcement of offer.