FTMM gets SECP's no-objection for merger into Treet Packaging

September 08, 2026 (MLN): First Treet Manufacturing Modaraba (PSX:FTMM) has received a no-objection certificate (NOC) from the Securities and Exchange Commission of Pakistan (SECP) for its proposed merger into Treet Packaging Limited (TPL) through a scheme of arrangement.

The Registrar Modaraba of SECP conveyed its no-objection for the merger vide a letter, subject to fulfillment of the conditions specified therein, in continuation of its earlier disclosure dated October 15, 2025, regarding the proposed corporate restructuring.

The aforementioned information was disseminated through a notification to Exchange.

Earlier in October 2025, FTMM had approved the initiation of a corporate restructuring plan that would convert the Modaraba into a Public Limited Company through a merger with and into a newly incorporated company.

The transaction was subject to all necessary corporate and regulatory approvals, including clearances from the Securities and Exchange Commission of Pakistan (SECP), Pakistan Stock Exchange (PSX), Registrar Modaraba Companies, Competition Commission of Pakistan (CCP) (where applicable), Lahore High Court, and the approval of certificate holders and creditors, where required under law.

The rights and interests of its certificate holders would remain fully protected throughout the restructuring process. 

Approval from certificate holders and shareholders were to be sought in accordance with applicable laws and through court-directed meetings once the scheme is finalized and approved by the Board.

The company emphasized that the proposed merger would  have no immediate impact on FTMM’s financial position, daily operations, or obligations to its lenders, creditors, employees, and commercial counterparties, which will continue uninterrupted during the restructuring.

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