Notices Closed 27 Jun 2026
iTANZ Addendum: EGM 27 June 2026 – Proposed 51% Acquisition of ITANZ Infinity Pty Ltd (AUD 21.857M)
iTANZ Addendum · Lahore · The Nation,
Notice advertisement published in The Nation on Thursday, 25 June 2026, listed under Lahore. Issued by iTANZ Addendum. The last date printed on the advertisement was Saturday, 27 June 2026 and has passed.
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Issuer: iTANZ Technologies Limited. This addendum to the statement of material information is annexed to the notice of an Extraordinary General Meeting (EGM) to be held on 27 June 2026 concerning the proposed acquisition of a 51% equity interest in ITANZ Infinity Pty Ltd and related matters.
| Item | Details |
|---|---|
| Purpose | Provide clarifications and additional material information regarding: (a) winding-up proceedings and a Deed of Forbearance with Westpac Banking Corporation; (b) share subscription agreement and protections; and (c) basis of proposed purchase consideration. |
| Transaction | Proposed acquisition of 51% of ITANZ Infinity Pty Ltd (including share subscription arrangements between ITANZ Technologies Limited and ITANZ Infinity Pty Ltd). |
| Consideration (basis) | Proposed purchase consideration AUD 21.857 million (valuation determined by an independent firm of Chartered Accountants; both pre- and post-money valuations referenced). |
| Payment / Structure | Share subscription consideration structured as deferred consideration payable in annual instalments (four annual instalments). The first instalment becomes due on expiry of one year from the date of subscription; repayment timetable aligned with the Deed of Forbearance and related arrangements. |
| Key Conditions / Protections | Share Subscription Agreement contains protections in favour of ITANZ Technologies Limited and requires compliance by ITANZ Infinity Pty Ltd with the Deed of Forbearance. The agreement includes information rights, contractual protections, and obligations to comply with Westpac arrangements; subscription consideration may be conditioned on compliance and certain enforcement events could reverse the transaction. |
| Winding-up Proceedings | Clarification that Westpac Banking Corporation and ITANZ Infinity Pty Ltd entered into a Deed of Forbearance allowing structured settlement of outstanding obligations; arrangements agreed to facilitate withdrawal of winding-up proceedings and to permit the proposed transaction to proceed subject to terms of the Deed. |
| Reports & Inspection | Independent valuation reports have been obtained and will be made available for inspection by attendees of the EGM. |
| Issuer Signatory | For and on behalf of iTANZ Technologies Limited — H. M. Maqsood Munshi, Company Secretary. |
| EGM Date | 2026-06-27 |
Shareholders and stakeholders should review the addendum and accompanying material information before the EGM. The addendum highlights that completion of the transaction is subject to compliance with the Deed of Forbearance, satisfaction of contractual conditions, and any required regulatory approvals.
Published in The Nation on Thursday, 25 June 2026. DailyAds.pk indexes newspaper advertisements; the original notice and the issuing organisation remain the source for final terms and eligibility.
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