TPL Life Insurance Limited (“the Company”), a subsidiary of TPL Corp Limited, is pleased to announce that InFrontier Limited (“InFrontier”), a specialist investment firm focusing on frontier markets, authorised and regulated by the Financial Conduct Authority of the United Kingdom, through its fund InFrontier AF LP, has signed terms sheet with the Company for acquiring 36.6% stake in the Company by way of equity investment.
The transaction shall be executed upon satisfactory completion of legal and financial due diligence by InFrontier and shall be subject Boards’, Shareholders’ and all the regulatory approvals.
The Company aims to utilize the funds to strengthen its balance sheet, grow retail insurance offerings, invest in systems and human capital, and develop technological infrastructures in order to build product and platform awareness.
We shall keep our shareholders updated with respect to this transaction by making further announcements as and when the transaction progresses further.
