Hallmark Company Limited has decided to change its name to Supernet Technologies Limited, the company informed the Pakistan Stock Exchange on Wednesday.
In its meeting held on 15 August 2023, the Board of Directors of Hallmark Company Limited decided to change its name to Supernet Technologies Limited “subject to SECP’s and shareholder’s approval in the upcoming General meeting in accordance with the Companies Act, 2017 and other ancillary laws for the time being enforced”.
This comes after Supernet Infrastructure Solutions (Private) Limited bought majority shares in Hallmark to become a publicly traded firm and avoid filing for an IPO.
On 13 April 2023, HCL sent a letter to the PSX, detailing that its shareholders and the Board of Directors of Gazpak (Private) Limited, had agreed to sell all of the Company’s shares to Supernet Infrastructure Solutions.
It was disclosed at the time that the shares collectively represent approximately 62.84 percent of the Company’s issued and paid-up capital totaling 314,220 shares, which has been confirmed in today’s filing by the company.
Today, the acquisition of shares has been completed, hence the company has notified the main board of its name change.