Karachi April 13 2023: Telecard in its capacity as the ultimate holding company of Supernet Infrastructure Solutions (Private) Limited (the “Purchaser”), informs that Mr. Irtaza Zafar Sheikh and the Board of Directors of the Gazpak (Private) Limited (“GPL”), the shareholders of Hallmark Company Limited have entered into Share Purchase agreement dated April 12, 2023 with the Purchaser for the sale of all of the Company’s shares held by Mr. Sheikh and GPL, according to company filing to the exchange.
Mr. Sheikh and GPL collectively holds 314,220 constituting approximately 62.84% of the issued and paid-up capital of the Hallmark Limited.
The consummation of the Proposed Divestment will be subject to the terms of the Share Purchase Agreement including issuance of public offer, receipt of requisite approvals and completion of other closing formalities.
