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TPL Corp Limited — M&A Activity 2019
Oct 29, 2019
72463_rns_2019-10-29_cfbcd706-0fe6-4b58-95cb-92daf1aa809b.pdf
M&A Activity
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Form-25
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Date: October 29, 2019
The General Manager Pakistan Stock Exchange Limited Stock Exchange Building Stock Exchange Road Karachi.
Subject: Disclosure of Material Information
Dear Sir,
In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1 (a) of PSX Regulations, we hereby convey that the Board of Directors of TPL Corp Limited, in terms of its meeting held on 29[th] October, 2019, has resolved that three of the Company’s wholly owned subsidiaries i.e. TPL Trakker Limited, TPL Maps (Pvt.) Limited and TPL Rupiyah (Pvt.) Limited, may take steps to be merged into one another (i.e. TPL Maps (Pvt.) Limited and TPL Rupiyah (Pvt.) Limited into TPL Trakker Limited), subject to fulfilment of all necessary formalities/steps stipulated under the laws.
Subsequent to the acquisition of controlling interest in Trakker Middle East LLC in UAE by TPL Trakker Limited together with this amalgamation it will create synergies in the business and will be operationally beneficial to reduce the cost, expand corporate customer base, advancement of business and to have better control.
A disclosure form as required under S.R.O. 143(1)/2012 dated December 5, 2012 read with Section 131 of the Securities Act, 2015 is also enclosed as Annexure A.
Yours sincerely,
Danish Qazi Company Secretary Cell No. 0300-8241394
Cc:
The Commissioner,
Company Law Division, Securities and Exchange Commission of Pakistan, NIC Building, 63, Jinnah Avenue, Blue Area, Islamabad.
TPL Corp Ltd.
12th Floor, Center Point Building off Shaheed-e-Millat Expressway, Adjecent KPT Interchange, Karachi Postal Code 74900 PABX (021) 34390300 Fax: (021) -35316032 Email: [email protected] Website: www.tplcorp.com
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ANNEXURE A
DISCLOSURE FORM IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015
| Name of Company: | TPL Corp Limited 12thFloor, Centrepoint, Off: Shaheed-e-Millat Expressway, Near KPT Interchange Flyover,Karachi. |
|---|---|
| Date of Report: | October 29, 2019 |
| Contact Information: | Danish Qazi Company Secretary 12thFloor, Centrepoint, Off: Shaheed-e-Millat Expressway, Near KPT Interchange Flyover, Karachi. Telephone Number: +92 21 34390300 (5) Fax Number: +92 21 35316028 |
Please mark the appropriate box below:
[√ ] Disclosure of price sensitive / inside information by listed company.
Public disclosure of price sensitive / inside information, which directly concerns the listed securities.
The Board of Directors of TPL Corp Limited, in terms of its meeting held on 29[th] October, 2019, has resolved that three of the Company’s wholly owned subsidiaries i.e. TPL Trakker Limited, TPL Maps (Pvt.) Limited and TPL Rupiyah (Pvt.) Limited, may take steps to be merged into one another (i.e. TPL Maps (Pvt.) Limited and TPL Rupiyah (Pvt.) Limited into TPL Trakker Limited), subject to fulfilment of all necessary formalities/steps stipulated under the laws.
Subsequent to the acquisition of controlling interest in Trakker Middle East LLC in UAE by TPL Trakker Limited together with this amalgamation it will create synergies in the business and will be operationally beneficial to reduce the cost, expand corporate customer base, advancement of business and to have better control.
The company has duly caused this form / statement to be signed / on its behalf by the undersigned hereunto duly authorized.
Danish Qazi Company Secretary Cell No. 0300-8241394
TPL Corp Ltd.
12th Floor, Center Point Building off Shaheed-e-Millat Expressway, Adjecent KPT Interchange, Karachi Postal Code 74900 PABX (021) 34390300 Fax: (021) -35316032 Email: [email protected] Website: www.tplcorp.com