Karachi November 29 2023: Octopus Digital Limited board approved to acquire two wholly owned subsidiaries of its parent company Avanceon Limited, according to company filing to the exchange.
The Board of Directors of the Octopus Digital Limited (“Company”), a subsidiary of Avanceon Limited (AVN) has approved the purchase/acquisition the entire shareholding of Empiric AI (Private) Limited (“EPL”), a wholly owned subsidiary of AVN, under EPL Business Transfer/Sale Agreement (“Agreement”) on such terms and conditions as specified in agreement.
The Board of Directors of the Octopus Digital Limited (“Company”) has approved the purchase/acquisition of entire shareholdings of Octopus Digital Inc., Pennsylvania USA (“ODI”) (formerly Engro Innovative, Inc.), a wholly owned subsidiary of Avanceon FZE (“AVN-FZE”) which in turn is the wholly owned subsidiary of Avanceon Limited (“AVN”) by Octopus Digital FZ-LLC, Dubai, UAE (“OD-FZLLC”), a wholly owned subsidiary of the Company, under ODI Business Transfer/Sale Agreement (“Agreement”) on such terms and conditions as specified in agreement.
