NESR announces completion of business combination with GES, NPS

HOUSTON (PR): National Energy Services Reunited Corp (“NESR”) (NASDAQ:NESR) (NASDAQ:NESRW) announced the completion of its business combination with Gulf Energy SAOC (“GES”) and National Petroleum Services (“NPS”) the other day. The combined company creates an industry-leading provider of integrated energy services and solutions in the Middle East and North Africa (“MENA”) region. Following the closing of the transaction, NESR’s common stock and warrants will continue to trade on the NASDAQ Capital Market stock exchange under the ticker “NESR” and “NESRW,” respectively.

“We are pleased to announce that National Energy Services Reunited Corp is now ready and eager to deliver the highest quality of services to our esteemed customers in the MENA region,” said Sherif Foda, chairman of the Board and CEO of NESR. “When we set out on this journey, we envisioned to create a truly national services company which has its roots in the MENA region. With the closing of these acquisitions, I believe we achieved our objective and have set the stage for our future growth strategy. Our key goals are to create employment opportunities, significantly expand local manufacturing and be recognized as one of the best service providers in the area. I would also like to thank our shareholder base which has supported these transactions, and I look forward to working with our great team of employees of NPS and GES to fulfill our vision.”

The transaction was approved by the board of directors of NESR and by shareholders at a special meeting in lieu of an annual meeting on May 18, 2018. At $10.00 per share, NESR will have an aggregate market capitalization following the business combination and completion of redemptions of approximately $1.1 billion. As a result of the business combination, former GES and NPS shareholders now collectively own a significant portion of the combined company, representing approximately 46% of the proforma market capitalization. Major shareholders include SCF Partners along with Viburnum Funds, The Olayan Group, and Waha Capital PJSC.

 

Jazz reaches another milestone with 55m subscribers

 

ISLAMABAD (PR): Jazz has further cemented its position as the country’s leading digital communications company after announcing it now serves 55 million subscribers nationwide.

Speaking during the celebrations at Jazz Digital HQ, Aamir Ibrahim, CEO Jazz, said, “Reaching this milestone is a wonderful feeling and speaks volumes about the work the entire Jazz team puts in. To think that every 1 out of 3 users in Pakistan is a Jazz subscriber, showcases the strength of our network and puts us in a prime position to take the country to the digital age’s new echelons with innovative digital offerings.”

Jazz’s constant position at the top of Pakistan’s telecom industry also correlates with its positioning as the leading mobile broadband network with highest 3G & 4G users at 18M+. The Telco also offers the largest portfolio of products, services, and mobile applications, which are being supported by the largest retail and business center footprint. Moreover, Jazz is the network of choice for corporate customers as it offers the largest roaming footprint around the world as compared to other operators in Pakistan.

Over the years, Jazz has been leveraging its leadership position to make a positive impact on the lives of millions of Pakistanis. Apart from heavy investments in the telecom sector, Jazz focuses on bridging the prevalent digital divide by way of its Super 4G being made available nationwide through its vast mobile broadband network.

Aware of its responsibilities to the masses, Jazz also leverages its resources and expertise to give those in need the tools necessary for success. For this reason, as part of the Jazz’s sustainability strategy, all initiatives under its Foundation follow the generic theme of empowering youth through technology – a part of Jazz’s group led (VEON) program, ‘Make your Mark.’

 

 

 

New Samsung TVs offer unprecedented technology

 

LAHORE (PR): They say there’s no substitute for actually being there in the stadium, with the sights and the sounds of the action all around you. But Samsung TVs enriches you with the same experience in the comfort of your own living room.

Samsung Electronics Pakistan has announced its new offer on TVs, to allow its consumers to have more thrilling football games experience. Samsung’s offer will extend from June 1st till June 30th 2018, on selected range of TVs. Every buyer of selected Samsung televisions will be rewarded with another TV, absolutely free.

The customers can now visit selected retail stores of Samsung or online retailers, to purchase a 65 inch QLED TV and get a free 40 inch FHD TV or a 65 inch UHD 4K TV and they will be rewarded with a 32 inch HD TV for free. With the amazing 75 inch UHD 4K TV buyers get to enjoy a free 40 inch FHD TV. And with the 82 inch Premium UHD 4K TV buyers will receive a Free 43 inch UHD 4K TV.

Y J Kim, president Samsung Electronics Pakistan, stated: “Modern-day consumers seek mesmerizing home-entertainment experiences, with access to a virtually endless choice of high-quality content throughout their homes. Samsung is proud to bring Pakistani consumers this amazing offer with the purchase of our world class TVs.”

The new TVs from Samsung offer unprecedented technology to provide immersive viewing experiences, allowing the viewers to live the moment as if they are in the football stadium to be closer to this popular game excitement.

 

 

 

New campuses of SMIU to be functional in 3 years: VC

KARACHI (PR): Dr Muhammad Ali Shaikh, vice chancellor of Sindh Madressatul Islam University, has said that besides City Campus of SMIU, two new campuses of SMIU namely Malir Campus and Hawks bay Campus will be functional in next three years. In addition to it, two more academic blocks would also be constructed in the present City Campus and a new most modern building of the SMIU Model School will also be built.

He stated this while giving briefing on the development plans for next ten years and admission policy of SMIU on the occasion of Iftar party, hosted by the university in the honor of media persons at a local hotel.

Dr Muhammad Ali Shaikh said that the architectural structure of all buildings of news campuses as well as of the SMIU Model School will resemble to its same beautiful structure that was of the old historic buildings of SMIU.

Dr Muhammad Ali Shaikh said that in the Hawks bay Campus the Institute of Information Technology and Communication will be set up, where about 5000 students will get education. This plot is comprised of ten acres, which was also given by the government of Sindh free of cost. “This institute will serve as a Silicon Valley of Pakistan,” Dr Shaikh said.

 

SZABIST hosts HR Networking Meetup

 

KARACHI (PR): HR Networking Meetup was hosted by the SZABIST Executive Development Centre the other day.

The HR representatives from reputable organisations were invited to the Meetup to share and discuss the necessary skills, experience and talents required for students to enter and sustain in the corporate world. The focus of the HR Networking Meetup was to bridge the gap between the demands of the employers and the skill set of students to fulfill these changing demands and trends. The relevant discussions during the Meetup gave new insights to program managers about the course of action for students.

 

 

GCT appeals for Zakat/donations

 

KARACHI (PR): The Green Crescent Trust (GCT) has appealed to the concerned philanthropists and members of the business fraternity for extending donations and Zakat contributions during and post Ramazan to help the GCT’s drive to increase enrollment of students to 100,000 in two years in its network of 150 plus charitable schools in Sindh.

“Our schools have been present and imparting quality education in such remote and rural areas of Sindh where the government’s own schooling system either don’t exist at all or is in sheer shambles,” said Chief Executive Officer of GCT Zahid Saeed. Zahid Saeed said that the GCT had been running water supply projects in over 600 villages of Thar covering its 20 percent area having 1,80,000 population. While plans were afoot to increase number of these projects to cover all 2,300 villages of the Tharparkar District till the end of year 2020, he added.

He said that at present over 29,000 students were enrolled in over 150 charitable schools of the trust as the GCT required an annual sum of minimum Rs 300 million alone to run this network, which also employs over 1,300 teachers.

He appealed to the concerned well-to-do citizens, philanthropists, and businessmen to come forward and generously contribute towards fundraising for the GCT during the current holy month to enable the trust to run its charitable projects and to expand their scope in near future.

“We do need your support as our revised estimates shows that the total annual budget of GCT will increase to Rs 890 million as we are planning for rapid conversion of our existing over 150 schools into purpose-built schools and water supply projects,” he said.