We write in accordance with the applicable provisions of sections 96 and 131 of the Securities Act, 2015 and Rule 5.6.1. (a) of the PSX Rule Book and with reference to our earlier disclosure notice dated November 17, 2022 relating to acquisition of Eni's business in Pakistan (the Eni Transaction) by Prime International Oil and Gas Company Limited (Prime) which is a 50-50 joint venture between Hub Power Holdings Limited (a fully owned subsidiary of The Hub Power Company Limited) and Eni's Employee Buy-out Group.
In this regard, we are pleased to inform you that, subject to requisite regulatory processes, the Eni Transaction has now been completed. The successful completion of the Eni Transaction is a further testimony of our commitment to continuous growth, diversification of our portfolio and maximizing value to our shareholders. Through Prime, the Hub Power Company will further develop critical indigenous fuel sources for the country and work towards optimum utilization of our natural resources. This will help in reducing the country's reliance on imported fuel sources.
You are requested to disseminate the information to the Members of the Exchange accordingly.
Yours truly,
Faiza Kapadia Raffay
Company Secretary
Cc: Director/HOD Surveillance, Supervision and Enforcement Department SECP, Islamabad
hubpower.com
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Hub Power Company Limited published this content on 30 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 December 2022 07:34:01 UTC.
The Hub Power Company Limited is a Pakistan-based independent power producer. The principal activities of the Company are to develop, own, operate and maintain power stations. The Company has installed power generation capacity of 3,581 megawatt (MW). Its fired thermal power plant situated at Mouza Kund, Hub in Balochistan. Its Narowal Plant is a fired, engine-based, combined cycle power station, located at Mouza Poong, Narowal in Punjab. The Company operates in three segments: power generation business, which includes the Hub plant, Narowal plant & Laraib plant; operations and maintenance business and investments in CPHGC, TEL, TNPTL, SECMC and Prime. The Company holds interest in Laraib Energy Limited, which is a run-of-the river 84MW hydel power plant near the New Bong Escape, 8 km downstream of Mangla Dam in Azad Jammu and Kashmir. The Company's subsidiaries include Hub Power Services Limited, Hub Power Holdings Limited, Narowal Energy Limited and Thar Energy Limited.
THE HUB POWER COMPANY LIMITED 
