Universal Network Systems acquires 110,000 shares of Universal Freight Systems

MG News | April 04, 2023 at 11:36 AM GMT+05:00

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April 04, 2023 (MLN): The shareholders of Universal Network Systems Limited (GEMUNSL) have resolved to acquire 110,000 ordinary shares of Universal Freight Systems (Private) Limited (UFS), having a face value of Rs100 each, the company's filing on PSX showed today.

This constitutes 100% of the issued and paid-up share capital of UFS, from the shareholders of UFS, for consideration of Rs12.43 million at Rs113.04 per share.

This acquisition is a strategic move by the company as it will enable them to expand its services in the freight and logistics sector.

UFS has a strong reputation in the industry and a proven track record of delivering quality services to its clients.

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