HMIM board approves merger with Sego Pakistan

November 03, 2026 (MLN): A draft Scheme of Arrangement for the merger and amalgamation of Sego Pakistan (Private) Limited (SPL) into Haji Mohammad Ismail Mills Limited (PSX: HMIM) has been approved by the latter’s board of directors at its meeting held on November 3, 2026.

Under the scheme, SPL’s entire undertaking, including its assets, liabilities, privileges, obligations, rights and business, will be merged into the company.

The approval is subject to shareholder approval, requisite permissions and approvals, sanction of the scheme by the Honorable High Court of Sindh at Karachi, fulfillment of all legal requirements, and any modification the court may require.

In consideration, the company will allot and issue an aggregate of 244,831,768 ordinary shares of Rs 10 each to SPL’s shareholders. The swap ratio is 1.0875 ordinary shares of the company for every one ordinary share of SPL of Rs 10 each. SPL will stand dissolved without winding up, and all its shares will stand cancelled.

The scheme also provides for a change in the company’s name to Sego Pakistan Limited.

Its principal line of business will change to assembling, manufacturing, importing, exporting, buying, selling and distributing mobile phones, mobile phone parts, accessories, batteries and allied telecommunication and electronic equipment.

It will also cover after-sales and other services related to them, and all things incidental to that business.

A joint petition for the proposed scheme will be filed with the High Court of Sindh at Karachi in due course. The scheme will also be circulated to the Pakistan Stock Exchange and shareholders, subject to the directions or orders of the court.

 The aforementioned information was disseminated through a notification to Exchange.

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