Karachi, The Hallmark Company Limited, Supernet Infrastructure Solutions Private Limited has successfully concluded the acquisition of a substantial stake, amounting to 62.84% of the total issued share capital. The transaction, carried out in compliance with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, was executed through a two-part process involving several transactions under the terms of a Share Purchase Agreement and a Mandatory Public Offer.

Under the Share Purchase Agreement, Mr. Irtaza Zafar Sheikh and Gazpak Private Limited, acting as sellers, facilitated the sale of 255,000 and 59,220 ordinary shares, respectively, to Supernet Infrastructure Solutions Private Limited. The transactions took place on August 15, 2023, at a rate of PKR 47.74/- per share, with physical and electronic certificates being issued.

Supernet Infrastructure Solutions Private Limited acted as the acquirer and new sponsor, purchasing the same number of shares, 255,000 and 59,220, from the sellers on the same date and at the same rate. This dual transaction process resulted in Supernet Infrastructure Solutions Private Limited securing a substantial controlling stake in Hallmark Company Limited.