CYAN, DHPL delisted from PSX after merger with DLL

March 24, 2026 (MLN): The Pakistan Stock Exchange (PSX) has officially notified that Cyan Limited (CYAN) and DH Partners Limited (DHPL) will stand delisted effective Wednesday, March 25, 2026, following the completion of their amalgamation with and into Dawood Lawrencepur Limited (DLL).

Both companies have fulfilled all post-merger requirements, permanently ceasing to exist as independent listed entities on the bourse.

The Islamabad High Court, vide its order dated February 12, 2026, sanctioned the Scheme of Amalgamation of DHPL and Cyan Limited with and into Dawood Lawrencepur Limited under the Companies Act, 2017, which was disclosed to the Exchange on February 19, 2026.

Following the court order, Cyan Limited on March 5, 2026 declared the share exchange ratios under which DLL shares would be issued to shareholders of the merging entities 7.2974 DLL shares for every 100 Cyan shares and 4.7724 DLL shares for every 100 DHPL shares.

The Record Date was fixed at March 13, 2026, with March 11 serving as the last trading day for Cyan shares.

The final regulatory clearance came on March 19, 2026, when the Competition Commission of Pakistan (CCP) approved the merger.

The CCP described the transaction as an internal restructuring among associated companies under common management, concluding that it posed no threat to market competition.

All assets, liabilities, and obligations of Cyan Limited and DH Partners Limited are now fully consolidated under Dawood Lawrencepur Limited.

Eligible shareholders as of the March 13 record date will receive DLL shares at the stated ratios. Members are advised to coordinate with their CDC Participant or Share Registrar to ensure timely credit of DLL shares.

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