Chashma Sugar Mills initiates amalgamation process with wholly-owned subsidiary

MG News | August 21, 2025 at 12:13 PM GMT+05:00

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August 21, 2025 (MLN): Chashma Sugar Mills Limited (PSX: CHAS) has shared that its Board of Directors has approved a Scheme of Amalgamation with its wholly-owned subsidiary, Ultimate Whole Foods (Private) Limited.

The amalgamation application containing the scheme has already been submitted to the Securities and Exchange Commission of Pakistan (SECP) for approval, marking the formal commencement of the process, according to the company's statement issued today.

The proposed effective date of the amalgamation is June 10, 2025, or such other date as may be specified by the Registrar of Companies once the scheme becomes operative upon completion.

The company stated that this strategic move is aimed at streamlining operations, enhancing administrative efficiency, and strengthening the Group’s overall financial and operational position in the long term.

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