The Avanceon Building 19 km Main Multan Road Lahore 54660 Pakistan
03 January 2023
AVN/PSX/03012023
The General Manager,
Pakistan Stock Exchange Limited,
Stock Exchange Building,
Stock Exchange Road,
Karachi.
Subject: Material Information.
Dear Sir,
We, Avanceon Limited (the "Company"), are writing this letter in continuation of the material information provided to Pakistan Stock Exchange ("PSX") vide our letter dated 06 October 2022. Reference AVN/PSX/06102022.
In accordance with the applicable provisions of the Securities Act, 2015 and Rule Book of Pakistan Stock Exchange Limited, we are pleased to inform you that the Company has transferred its 5.68%holding of Octopus Digital Limited comprising of 7,767,400shares to Dawood Hercules Corporation Limited ("Seller") in the account of the Seller on 03 January 2023, in exchange for entire shareholding of EmpiricAI (Pvt) Limited (100%of the outstanding paid-up capital of EmpiricAI (Pvt) Limited) simultaneously received in the Company's account, as per the terms and conditions as are specified under the Share Purchase Agreement dated 10 October 2022 between the Seller and the Company.
A disclosure form is attached herewith. PSX may please inform the Trading Right Entitlement Certificate Holders of PSX, accordingly.
Yours Sincerely,
Ahsan Khalil | Company Secretary
Encl: as above
Copy to:
Executive Director / HOD, Offsite-II Department Supervision Division
Securities and Exchange Commission of Pakistan 63, NIC Building, Jinnah Avenue, Blue Area, Islamabad.
www.avanceon.ae| Enquiries: support@avanceon.ae
Regional Operations Centre
The Avanceon Building
19 km Main Multan Road
Lahore 54660 Pakistan
DISCLOSURE FORM
(Securities Act, 2015)
03 January 2023
Name of the Company
Avanceon Limited.
Date of Report (Date of
03 January 2023
earliest event reported if
applicable)
Exact Name
of
the
Avanceon Limited
Company as specified in
its Memorandum
Registered address of the
19-KM, Main Multan Road, Lahore.
Company
Contact Information
Ahsan Khalil
Company Secretary
Tel Number: +92-42-111-940-940
Fax Number: +92-42-35456957
Email:akhalil@avanceon.ae
Disclosure
of inside
In accordance with the applicable provisions of the Securities Act,
information
by
the
2015 and Rule Book of Pakistan Stock Exchange Limited, we are
Company
in
terms
of
pleased to inform you that the Company has transferred its 5.68%
Securities Act, 2015
holding of Octopus Digital Limited comprising of 7,767,400shares to
Dawood Hercules Corporation Limited ("Seller") in the account of the
Seller on 03 January 2023, in exchange for entire shareholding of
EmpiricAI (Pvt) Limited (100%of the outstanding paid-up capital of
EmpiricAI (Pvt) Limited) simultaneously received in the Company's
account, as per the terms and conditions as are specified under the
Share Purchase Agreement dated 10 October 2022 between the
Seller and the Company.
Ahsan Khalil | Company Secretary
www.avanceon.ae| Enquiries: support@avanceon.ae
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Avanceon Ltd. published this content on 03 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2023 10:27:07 UTC.
Avanceon Limited is a Pakistan-based provider of industrial automation, process control, and systems integration, as well as proprietary energy management solutions and support services. The Company's After Marketing Support (AMS) segment is engaged in the provision of services, such as technical support and service level agreements (SLAs) and related spares. Its Core Business segment includes Application Based Solutions (ABS), Systems, and Products. ABS sales include the supply of patented systems, power products, software, Variable Speed Drives (VSDs), and Variable Frequency Drives (VFDs). Systems sales are embedded solutions for multiple original equipment manufacturers (OEMs) equipment. Products include the sale of motors, analyzers, and other specialized products of OEMs. Its Specialized Business segment includes Energy Management Systems (EMS) and High End Solutions (HES). Its other segments include Manufacturing and Assembling, Engineering services business and Middle East.
AVANCEON LIMITED 
