786 Investment Ltd announces date for merger of 786 Rising Star Fund, First Dawood Mutual Fund into 786 Smart Fund

December 17, 2019 (MLN): 786 Investments Limited via notification to Exchange has informed the effective date for the merger of 786 Rising Star Fund (786RSF) and First Dawood Mutual Fund (FDMF) with and into 786 Smart Fund (786SF) as on December 20, 2019.

The Board of Directors of the company, in their General meeting held on September 23, 2019 and October 16,2019 respectively decided that 786 Rising Star Fund and Fisrt Dawood Mutual Fund shall merge with and into 786 Smart Fund, the Surviving Scheme on the basis of Swap ratio of the funds as on day end December 19, 2019 (the day immediately preceding the effective date of merger).  

Units shall be allocated, on the basis of swap ratio, to each unit holder of 786RSF and FDMF as on day end October 10, 2019 (1st day of book closure) against units of 786SF.

After allotment of units of 786SF to the eligible persons, all units representing their holding in 786RSF and FDMF shall become cancelled.

Further, the issuance and redemption will be resumed from December 23, 2019.

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Posted on: 2019-12-17T16:17:00+05:00