March 11, 2024 | Form 25 |
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.
Subject: | Disclosure of Material Information |
Dear Sir,
In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 (a) of PSX Regulations, we hereby convey the following:
In continuation to the announcement of the Company dated February 26, 2024, we are pleased to announce that the Company has signed a Non-Binding Indicative Term Sheet with a UAE based conglomerate for a large equity stake in Trakker Middle East ("TME"), an associated company of TPL Trakker Limited.
The proposed transaction shall be contingent upon approval from the relevant regulatory authorities, satisfactory completion of due diligence, obtaining requisite internal approvals and entering into definitive documentation. The proposed transaction is anticipated to be completed by May 31, 2024.
We shall keep our shareholders updated with respect to this transaction by making further announcements as and when the transaction progresses further.
You may please inform the Trading Right Entitlement Certificate Holders of PSX accordingly.
Yours sincerely,
Cc:
Director / HOD
Surveillance, Supervision and Enforcement Department
Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue
Blue Area, Islamabad
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TPL Trakker Limited published this content on 11 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2024 03:04:02 UTC.