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JSCL denies involvement in alleged attempt to take over HUMNL
KARACHI: Jahangir Siddiqui & Co Limited (JSCL) on Monday wrote a letter to the Pakistan Stock Exchange (PSX) denying its involvement in an alleged attempt to take over Hum Network Limited (HUMNL).
The letter was written with reference to the letter from Hum Network Limited (HUMNL) posted on the PSX on August 10, alleging the groups involvement in a covert takeover attempt of HUMNL.
The letter by JSCL is undersigned by the company secretary Syad Ali Hasham.
JSCL felt the need to write a point wise reply to clarify its position regarding reports alleging that the company was involved in a covert attempt to take over HUMNL.
The company said that the letter was written “considering the gravity and severity of the allegations (which have caused huge reputational damage to JS Group”.
“It is clear that the company (HUMNL) has tried to club the shareholding of Kingsway Capital and Munaf Ibrahim with JS Group’s sharehol