Telecard to sell 81.18% stake in Supernet to Hallmark

MG News | December 20, 2023 at 12:43 PM GMT+05:00

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December 20, 2023 (MLN): The Board of Directors of Telecard Limited (PSX: TELE) has approved entering into a Share Purchase Agreement with Hallmark Company Limited for the sale and transfer of Telecard's entire shareholding in Supernet Limited, the company's filing on PSX showed today.

It consists of 100.21 million shares constituting approximately 81.18% of the issued and paid-up capital of Supernet to Hallmark, a direct subsidiary of Telecard Limited.

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

The company will accordingly be issuing the notice for the extraordinary general meeting in due course.

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