Karachi December 17 2021: Octopus Board of Directors resolved that the Company be and is hereby authorized to further issue shares by way of other than right according to information shared at Pakistan Stock Exchange.
The structure of issuance is under sub-section (1) of section 83 of the Companies Act 2017 and Section 5 of Chapter IV of the Companies (Further Issue of Shares) Regulation, 2020. The transaction is subject to approval of the resolution by the Shareholders and Securities & Exchange Commission of Pakistan (SECP).
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Octopus Digital Profitability Grow By More Than 12 Times: PSX
BMA Capital Management Limited (“BMA Capital”) be and are hereby appointed to act as Financial Advisor to assist the Company in all related activities for private placement.
The members of the Company be and is hereby granted to grant unsecured short term loan facility of up to PKR 350 million to its holding company Avanceon Limited (“AVN”) as per the terms and conditions specified.
