December 19, 2023
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.
Subject: | Disclosure of Material Information |
Dear Sir,
In accordance with Sections 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, we hereby convey the following:
In continuation to our earlier announcement dated November 14, 2023, we are pleased to announce that the State Bank of Pakistan, by way of its letter dated December 18, 2023, has granted TPL Corp Limited ("TPL") and Abhi (Private) Limited ("Abhi") its approval to commence the due diligence of FINCA Microfinance Bank Limited ("Bank") for the purpose of a potential acquisition by TPL along with Abhi of a majority shareholding in the Bank ("Proposed Transaction").
The Proposed Transaction will remain subject to the outcome of the due diligence, obtaining requisite internal and regulatory approvals and entering into definitive documentation.
TPL shall keep the PSX apprised of all further developments in the said transaction.
Yours sincerely
________________
Shayan Mufti
Company Secretary
Cc:
Director / HOD
Surveillance, Supervision and Enforcement Department
Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue
Blue Area, Islamabad
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TPL Corp Ltd. published this content on 19 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 December 2023 04:59:06 UTC.