Karachi July 25 2022: The Board of Directors of Dawood Hercules Corporation Limited (the ‘Company’) has approved investment in its subsidiary Empiric AI, according to company filing to the exchange.
The amount of investment is Rs 375,000,000/- (Rupee Three hundred and seventy-five million) in the proposed Right Issue of Empiric AI (Private) Limited (wholly owned subsidiary company) comprising of 37,500,000/-
shares of Rs. 10/- (Rupees ten each).
EmpiricAI (Private) Limited (EMPK) is a private limited company, incorporated in Pakistan on May 19,
2020 under the Companies Act, 2017. EMPK is a wholly owned subsidiary of the DAWH. EMPK is established with primary objective of analyzing potential opportunities and making available digital and technology services and products inside and outside Pakistan.