TPL Insurance issues clarification regarding receipt of Rs1 billion from foreign investors

December 12, 2019 (MLN): TPL Insurance Limited, in a letter to Pakistan Stock Exchange (PSX) has clarified that the detail of PKR 1 billion investment from foreign investors contained in the article published in print/ electronic media has been misinterpreted by certain analysts.

“Whilst TPL Insurance Limited is seeking investment from local as well as foreign investors, there has been no concrete development on the same since the same is at a very early stage with multiple potential investors being reviewed by the company”, the notification said.

The notification further adds that the company deems it appropriate to only inform the shareholders once there is a definitive decision by the management with timeline for such investment, which is when the information would become material for disclosure to the shareholders.

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