HUBCO to Decide on Premature Termination of Its Contract With Govt Tomorrow

The Board of Directors of the Hub Power Company Limited (PSX: HUBC) will meet tomorrow to decide on the terms proposed for the premature termination of its contract with the federal government, the company informed the main bourse on Wednesday. The Board will consider the premature termination in October 2024, of the Implementation Agreement, Power Purchase Agreement, Fuel Supply Agreement and Guarantee which were scheduled to expire in March 2027, in light of the discussions with the Task Force constituted under the Prime Minister’s Office and certain IPPs, including the Company, HUBC said in a stock filing. The Company has declared the “Closed Period” from Wednesday, October 9, 2024, to Thursday, October 10, 2024 (both days inclusive). As required under Clause 5.6.4 of PSX Regulations. Accordingly, no Director, CEO, or Executive shall, directly/indirectly, deal in the shares of the Company in any manner during the Closed Period.