Notices Closed 27 Jun 2026

Addendum to EGM Notice — iTANZ Technologies: Update on Proposed 51% Acquisition of ITANZ Infinity (EGM 27 June 2026)

Addendum to EGM Notice · Gwadar · The Nation, 25 Jun 2026

Notice advertisement published in The Nation on Thursday, 25 June 2026, listed under Gwadar, Pakistan. Issued by Addendum to EGM Notice. The last date printed on the advertisement was Saturday, 27 June 2026 and has passed.

Newspaper clipping: Addendum to EGM Notice — iTANZ Technologies: Update on Proposed 51% Acquisition of ITANZ Infinity (EGM 27 June 2026), The Nation, 25 Jun 2026

Original clipping · The Nation · 25 Jun 2026 · tap to zoom

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iTANZ Technologies Limited issues an addendum to the material information annexed to the Notice of Extraordinary General Meeting scheduled for 27 June 2026. The addendum provides updates and clarifications regarding the proposed acquisition of a 51% equity interest in ITANZ Infinity Pty Ltd and related financing, forbearance and valuation matters.

Issuer	iTANZ Technologies Limited
Purpose	Annexure clarifying developments after circulation of EGM notice relating to proposed acquisition of 51% of ITANZ Infinity Pty Ltd
EGM Date	2026-06-27
Key clarifications and actions	Westpac Banking Corporation had initiated winding-up proceedings against ITANZ Infinity Pty Ltd. iTANZ Infinity and Westpac entered into a Deed of Forbearance permitting withdrawal of winding-up proceedings and deferring enforcement of secured rights under agreed terms. The Deed of Forbearance provides a structured settlement arrangement under which the buyer (ITANZ Infinity Pty Ltd to be acquired by iTANZ) will comply with agreed repayment obligations and the Forbearance Deed conditions. The Share Subscription Agreement between ITANZ Technologies Limited and ITANZ Infinity Pty Ltd includes covenants and protections in favour of ITANZ Technologies Limited; the agreement does not assume or indemnify liabilities that properly remain with ITANZ Infinity Pty Ltd. Subscription consideration is structured as deferred consideration payable in annual instalments, with the first instalment due one year after subscription; repayment timetables and potential acceleration events are described. Set-off mechanism: iTANZ Technologies Limited may apply inter-company balances to satisfy subscription consideration where permitted, subject to limits and compliance with the Deed of Forbearance and applicable approvals.
Purchase consideration	Proposed consideration of AUD 21.857 million for the controlling equity stake
Valuation	Independent valuation reports prepared by a firm of Chartered Accountants (with a valid QCR Rating) and referencing Institute of Chartered Accountants of Pakistan standards; book and market approaches used. Reports available for inspection by EOGM attendees.
Other important points	Any failure by ITANZ Infinity Pty Ltd to comply with the Deed of Forbearance could enable Westpac to recommence enforcement or winding-up proceedings; contractual protections and mechanisms for reversal of the transaction in such circumstances are described.
Authorized signatory	H. M. Maqsood Munshi, Company Secretary, on behalf of iTANZ Technologies Limited

Copies of the independent valuation reports will be made available for inspection by attendees of the Extraordinary General Meeting. Shareholders should refer to the EGM materials for full terms and conditions and consult advisers if required.

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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