AEL to be dissolved after merger with Stylers International

MG News | June 27, 2023 at 10:35 AM GMT+05:00

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June 27, 2023 (MLN): The shareholders of AEL Textile Limited (PSX: AEL) have approved the merger of the company with and into Stylers International Limited (SIL), AEL’s latest filing on PSX revealed today.

“Shares of SIL will be issued and allotted to the members of AEL as consideration for the proposed merger and the shares of SIL will stand listed on the PSX,” the notice reads.

It further states that as a consequence of the proposed merger and upon the listing of the shares of SIL on PSX, AEL will be delisted from the PSX and will be dissolved without winding up.

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