Telecard to buy 62.84% of Hallmark from SIS

MG News | November 13, 2023 at 12:31 PM GMT+05:00

0:00

November 13, 2023 (MLN): Telecard Limited (PSX: TELE) has entered into a share purchase agreement (SPA) with Supernet Infrastructure Solutions (Private) Limited for the acquisition of SIS's entire shareholding in Hallmark Company Limited, as per the company's latest notice issued on the PSX today.

This entails the acquisition of 314,220 shares, constituting approximately 62.84% of the issued and paid-up capital of Hallmark.

The consummation of the proposed transactions will be subject to the procurement of all applicable regulatory and corporate approvals as may be required.

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