Karachi February 23 2022: Manager to the Offer informed that they received applications for a total of 202,580,000 shares against an offer size of 332,146,260 shares. Therefore, as defined in the Offer Letter dispatched to the shareholders of HUMNL, manager to the offer accepted all shares from such shareholders who tendered the shares, as per company filling at the exchange.
This will increase the holding of acquirer Mr. Duraid Qureshi to 432,202,000 shares or 45.7 percent.
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Earlier, Mr. Duraid Qureshi (hereinafter referred to as the “Acquirer”) made the Public Announcement of Offer to acquire up to 332,146,260 ordinary shares of Hum Network Limited (“HUMNL” or the “Target Company”). The Public Announcement of Offer was published in the print media on December 28, 2021 and the Acceptance Period with regards to the offer commenced on February 14, 2022 and ended on February 20, 2022.
Consideration for the shares accepted will be dispatched to the shareholders’ respective addresses latest by March 02, 2022.
