System Ltd and subsidiary to acquire 100% shares of NdcTech

News Image

MG News | May 30, 2022 at 10:04 AM GMT+05:00

0:00

May 30, 2022 (MLN): System Limited and its wholly-owned subsidiary in Singapore, Systems Internal IT Pte Ltd will enter into a Shares Purchase Agreement with the existing shareholders of NdcTech for the acquisition of 100% shares of NdcTech for a consideration of $10 million plus Rs5.075 billion payable by the company, as per the resolutions passed in the Board of Directors’ meeting held on May 27, 2022.

The amount is partially in cash (Rs346 million) and partially in kind by way of issuance of 11,822,500 new shares of the company to the sellers of NdcTech at Rs400 per share of the company subject to all necessary shareholder and regulatory approvals.

To note, NdcTech comprises National Data Consultant (Pvt.) Limited, NDCTECH APAC Pte. Limited, Singapore and National Data Consultancy FZC.

As per the notice, the CEO of the company has been authorized to finalize the terms and conditions for the Shares Purchase Agreement and execute the same for and on behalf of the company and take all actions and steps for implementing the terms of the Shares Purchase Agreement.

It has been further resolved that the agenda item of the proposal for further issue shares by way of other than right, under sub-section (1) of section 83 of the Companies Act 2017 and Section 5 of Chapter IV of the Companies (Further Issue of Shares) Regulation, 2020 in favour of the sellers of NdcTech as and by way of partial consideration be taken up in a subsequent Board meeting after execution of the Shares Purchase Agreement and completion of necessary formalities for such proposal under the aforesaid Regulations.

Currently, the stock is trading at Rs.334.84, up by 5.92 or 1.80% DoD [9:59 PST].

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg