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HomeFinanceStock MarketTPL INSURANCE LIMITED, ACQUISITION OF NHIC Pakistani Branch

TPL INSURANCE LIMITED, ACQUISITION OF NHIC Pakistani Branch

TPL Insurance Limited ke Board of Directors ne 26 April, 2023 ko diye gae proposal ke mutabiq, 26 May 2023 ki meeting mein NHIC (New Hampshire Insurance Company) ke Pakistani Branch ke assets and liabilities ko acquisition ke liye High Court se Scheme of Arrangement ki draft ko approve kar liya hai.

TPL Insurance ne PSX ko inform kia hai kay New Hampshire Insurance Company ke assets and liabilities ko TPL Insurance Limited ko transfer aur istemal karne ke liye Scheme of Arrangement ki ijazat di gai hai. Scheme of Arrangement ke liye all necessary shareholders, Creditors and regulatory approvals ke high court se sanction karane ke related legal formalities fulfill karne ki zaroorat hai.

Scheme of Arrangement ke sanction hone aur expected hai ke transaction 31 December 2023 tak fulfill ho jaye gi.

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