First UDL Modaraba to merge fully with UDLI

MG News | October 17, 2022 at 03:13 PM GMT+05:00

0:00

October 17, 2022 (MLN): The board of First UDL Modaraba’s (FUDLM) on Monday approved the conversion of FUDLM into a company by way of a merger with and into UDL International Limited (UDLI), the company’s filings on the stock exchange showed on Monday.

The board has also approved and confirmed the draft of the Scheme of Arrangement that is to be sent to the Securities and Exchange Commission of Pakistan (SECP) for its consideration and approval.

For the purposes of the Scheme of Arrangement, the board also approved to apply for a grant of a no-objection certificate by the SECP, for the incorporation of the Investment Financial Services company as a wholly owned subsidiary of UDLI.

The swap ratio would be 1:1 that is for every certificate of FUDLM 1 share of UDLI would be issued to the certificate holders of UDL Modaraba, the filing added.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	184,409.67 393.48M	-0.61% -1133.34
ALLSHR	110,382.58 1,026.61M	-0.45% -501.36
KSE30	56,593.88 158.22M	-0.71% -404.12
KMI30	259,208.41 213.19M	-0.87% -2263.77
KMIALLSHR	70,710.78 493.25M	-0.60% -427.51
BKTi	53,774.72 51.55M	-0.55% -299.43
OGTi	36,045.04 14.71M	-0.59% -214.34

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	90,645.00	92,275.00 89,825.00	-460.00 -0.50%
BRENT CRUDE	63.02	63.92 61.83	1.03 1.66%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-1.25 -1.42%
ROTTERDAM COAL MONTHLY	95.30	98.65 95.30	-2.90 -2.95%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	58.78	59.77 57.61	1.02 1.77%
SUGAR #11 WORLD	14.89	14.99 14.78	-0.08 -0.53%