Telecard Set to Acquire SIS’s Shareholding in Hallmark Company

Telecard Limited is set to acquire entire shareholding of Supernet Infrastructure Solutions (Private) Limited in Hallmark Company Limited. In a notice to the Pakistan Stock Exchange (PSX), Telecard said that its members/shareholders have approved entering into a Share Purchase Agreement with Supernet Infrastructure Solutions (Private) Limited (SIS) for the acquisition of SIS’s entire shareholding in Hallmark Company Limited (i.e. 314,220 shares constituting approximately 62.84 percent of the issued and paid-up capital of Hallmark). The stock filing further said that the consummation of the Proposed Transactions will be subject to the procurement of all applicable regulatory and corporate approvals as may be required. Telecard itself and through its subsidiaries is licensed to provide fully integrated telecommunications services, including basic wireless telephony, long distance and international services and payphones.