TPLP approves sale of three SPVs to TPL REIT FUND-I

By MG News | February 28, 2022 at 11:30 AM GMT+05:00

0:00

February 28, 2022 (MLN): The board of directors of TPL Properties Limited (TPLP) has approved the sale of three Special Purpose Vehicles (SPVs) i.e., HKC Private Limited, TPL Technology Zone Phase – I (Private) Limited and National Management & Consultancy Services (Private) Limited, to TPL REIT Fund-I managed by its wholly-owned subsidiary TPL REIT Management Company Limited (TPL RMC),

According to the notice to PSX sent today, it is subject to the approval of the shareholders.

Upon transfer of the SPVs, TPLP will hold at least 25% units in TPL REIT Fund-I as a strategic investor.

The board of directors of TPLP has also approved the incorporation of a wholly-owned subsidiary by the name TPL Properties Development (Private) Limited (TPLPD), which shall act as a development arm of TPLP.

The development activities shall be carried out under TPLPD, for which TPLP is in the process of appointing a Chief Executive Officer to lead the business.

TPLP shall now act as a holding company overseeing operations and performance of TPLPD, TPL Property Management Private Limited, and TPL RMC.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	130,686.66 280.01M	0.26% 342.63
ALLSHR	81,305.25 897.01M	0.35% 281.26
KSE30	39,945.45 114.02M	0.09% 37.19
KMI30	190,698.05 148.61M	0.61% 1163.05
KMIALLSHR	55,074.15 495.43M	0.53% 290.50
BKTi	34,568.40 28.73M	-1.07% -372.33
OGTi	28,739.35 22.59M	1.57% 443.29

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,240.00	110,525.00 110,155.00	-175.00 -0.16%
BRENT CRUDE	68.88	68.89 68.85	0.08 0.12%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	-0.75 -0.76%
ROTTERDAM COAL MONTHLY	108.45	109.80 108.45	-0.55 -0.50%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.12	67.18 67.00	0.12 0.18%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%