Karachi: United Distributors Pakistan Limited (UDPL) has released an addendum to the notice of its Extraordinary General Meeting (EOGM), scheduled for June 13, 2025. The meeting will be held in Karachi and accessible via video link. The addendum provides additional disclosures under Section 208 of the Companies Act, 2017, concerning the acquisition of Trax Distribution Private Limited (TDPL).

According to the information, the acquisition involves the purchase of 10,001,000 ordinary shares, representing a 100% equity interest in TDPL. The acquisition is valued at PKR 100 million and involves related parties, including Genesis Holdings (Private) Limited and Mr. Asif Ali Khan. Genesis Holdings, which holds 85.23% of UDPL, is also TDPL's major shareholder with a 77.5% stake.

The acquisition deal, structured as a strategic long-term investment, aims to consolidate logistics and distribution operations under UDPL. The transaction has been executed on an arm's length basis, following an independent valuation report confirming the fairness of the price. The Audit Committee of UDPL has reviewed the transaction and recommended it for approval, citing it as beneficial for the company and its shareholders.

According to information available from the Pakistan Stock Exchange (PSX), UDPL has informed the TRE Certificate Holders of the exchange about the addendum and the revised details of the transaction.

Additionally, the Company has announced the closure of its Share Transfer Books from June 5 to June 13, 2025, due to the Eid holidays from June 6-9, 2025. Consequently, the e-voting period has been adjusted to run from June 10 to June 12, 2025. Members are encouraged to participate in the voting process during this period.

PKF F.R.A.N.T.S Chartered Accountants have been appointed as the Scrutinizer to oversee the voting process, including e-voting. The Central Depository Company of Pakistan Limited will act as the e-voting service provider, ensuring compliance with the relevant regulations.