Material Information of Dawood Hercules Corporation Limited

Material Information

Karachi, Dawood Hercules Corporation Limited informed Pakistan Stock Exchange that the company has transferred its entire shareholding in Empiric Al (Private) Limited (“Empiric AI”) (100% of the outstanding paid-up capital of Empiric AI) to Avanceon Limited (the “Acquirer”) in the account of the Acquirer on January 03, 2023 and received 7,767,400 number of shares of paid-up capital, as per the terms and conditions specified under the share Purchase Agreement on October 10, 2022 between the Acquirer and the company.

Dawood Hercules Corporation Limited is founded as Dawood Hercules Chemical Limited in 1968, is an Investment Company listed on Pakistan Stock Exchange. It is publicly listed company, and is the investment holding platform for the Dawood Hercules Group; a business family with an entrepreneurial history spanning over a century.

Dawood Hercules Corporation Limited was incorporated in Pakistan on April 17, 1968. The principal activity of the Company is to manage investments including in its subsidiary and associated companies.

The Company deploys and manages investments across a diverse range of sectors, including in its subsidiaries and associated companies, and its subsidiary, Engro Corporation Limited, is one of the largest industrial conglomerates in Pakistan, and has leveraged joint ventures to scale up businesses and enhance capabilities for handling complex Greenfield projects.

The total number of shares of the Company are 481,287,116. The Earnings per share has decreased in 2020 and is 7.75 which was 10.02 in 2019. The Profit after Taxation is 3,727,994,000 in 2020 which was 4,821,697,000 in 2019.