Telecard completes first tranche sale of 51% Supernet shares to Hallmark

MG News | March 27, 2024 at 12:21 PM GMT+05:00

0:00

March 27, 2024 (MLN): Telecard Limited (PSX: TELE) has sold the first tranche of its shareholding in Supernet Limited (PSX: GEMSPNL), comprising around 63 million shares or 51% of Supernet's issued and paid-up capital, to Hallmark Company Limited (PSX: HCL).

The company disseminated this information through a notice issued to the local bourse today

This sale is in accordance with the terms of the Share Purchase Agreement dated February 15, 2024.

To note, Hallmark is a direct subsidiary of Telecard Limited.

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