Sapphire Fibres approves merger with Reliance Cotton Spinning Mills

MG News | September 26, 2025 at 10:13 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 26, 2025 (MLN): Sapphire Fibres Limited (PSX: SFL)'s Board of Directors has approved a Scheme of Compromises, Arrangement, and Reconstruction for the amalgamation of Reliance Cotton Spinning Mills Limited (RCSML) with and into Sapphire Fibres.

The merger will be carried out under Sections 279 to 283, read with Section 285, of the Companies Act, 2017, and other applicable provisions.

Following completion, RCSML will be dissolved without winding up, pursuant to the order of the Sindh High Court.

Shares of Sapphire Fibres will be issued to the registered shareholders of RCSML according to the swap ratio certified by Shinewing Hameed Chaudhri & Co., Chartered Accountants.

The scheme is subject to the required approvals from shareholders, creditors, regulators, and the sanction of the Sindh High Court, in addition to fulfilling other corporate and legal formalities.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,431.67 9.59M	0.27% 462.35
ALLSHR	103,185.92 30.49M	0.29% 293.29
KSE30	50,792.74 1.92M	0.29% 148.48
KMI30	244,349.03 2.45M	0.30% 740.52
KMIALLSHR	66,824.19 15.60M	0.25% 168.49
BKTi	47,322.49 0.25M	0.40% 186.50
OGTi	34,732.05 0.24M	0.05% 15.67

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	84,215.00	84,230.00 83,635.00	290.00 0.35%
BRENT CRUDE	96.92	98.53 96.81	-1.11 -1.13%
RICHARDS BAY COAL MONTHLY	128.50	128.50 128.50	5.00 4.05%
ROTTERDAM COAL MONTHLY	142.95	142.95 137.95	5.65 4.12%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	89.17	90.69 89.10	-1.25 -1.38%
SUGAR #11 WORLD	18.62	19.12 18.53	-0.22 -1.17%