KARACHI: The Board of Directors of Telecard Limited through resolution has approved entering into a Share Purchase Agreement with Hallmark Company Limited (HCL), a directory subsidiary of the company for the sale and transfer of Telecard’s entire shareholding in Supernet Limited (i.e. 100,216,712 shares constituting approximately 81.18 percent of the issued and paid-up capital of Supernet) to Hallmark.

“The consummation of the proposed transaction will be subject to the approval of the shareholders of the company and procurement of all applicable regulatory and corporate approvals as may be required,” material information sent to Pakistan Stock Exchange on Wednesday said.

Copyright Business Recorder, 2023