Supernet makes offer for 18.6% shares of IT company HCL

May 31, 2023 (MLN): Supernet Infrastructure Solutions Private Limited (PSX: GEMSPNL) has made an offer to acquire 92,890 shares constituting approximately 18.578% of the issued and paid-up capital of Hallmark Company Limited (PSX: HCL), the company's filing on PSX showed today.

Topline Securities Limited, manager to the offer, on behalf of the acquirers, has submitted a Public Announcement of Offer (PAO).

The PAO will be subject to the applicable law and the terms of the Share Purchase Agreement dated April 12 2023.

This is further to the disclosure dated April 14 2023, wherein the shareholders of HCL entered into a share purchase agreement with the purchaser for the sale of all of the company's shares held by Mr. Sheikh and GPL (i.e. collectively 314,220 constituting approximately 62.84% of the issued and paid-up capital of the company).

The offer was announced by Telecard Limited (PSX: TELE), the holding company of SPNL on behalf of SPNL.

SPNL is a wholly-owned subsidiary of Telecard Limited. The company is engaged in providing Satellite and microwave communication services.

HCL offers a wide range of products that fall under the Information Technology ambit and includes but not limited to devices for Datacenter, End User Computing, and Identity and Security Portfolio.

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