Octopus to further issue shares by way of other than right

MG News | December 17, 2021 at 12:29 PM GMT+05:00

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December 17, 2021 (MLN): Octopus Digital Limited (OCTOPUS), in its Extraordinary General Meeting (EOGM) held on 16 December 2021, has approved the resolution to further issue shares by way of other than right, the company filing on PSX showed today.

BMA Capital Management Limited (BMA Capital) has been appointed to act as Financial Advisor to assist the company in all related activities for private placement.

In EOGM, it was further resolved that the members of the company be and are hereby granted to grant unsecured short-term loan facility of up to Rs350 million to its holding company Avanceon Limited (AVN) as per the terms and conditions specified.

Further, the board approved the resolution of Rs2.5bn authorized share capital of the company divided into 250 million ordinary shares of Rs10 with power to increase, consolidate, sub-divide, cancel, reduce or otherwise reorganize the share capital of the company.

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