Avanceon approves sale of Empiric AI to Octopus Digital

MG News | November 29, 2023 at 12:49 PM GMT+05:00

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November 29, 2023 (MLN): The Board of Directors (BoD) of Avanceon Limited (PSX: AVN) has approved the sale/transfer/dispose of the entire shareholding in its wholly owned subsidiary Empiric AI (Private) Limited (EPL) to Octopus Digital Limited (PSX: OCTOPUS), the company's filing on the local bourse showed today.

To note, Octopus is a subsidiary of Avanceon Limited.

Moreover, the BoD has approved the sale/transfer/dispose of the entire shareholding of Octopus Digital Inc., Pennsylvania USA (ODI) (formerly Engro Innovative, Inc.).

The consummation of the transaction will be subject to the sale/transfer/dispose of all applicable regulatory and corporate approvals as may be required.

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