ARPL allocates 445k shares to Huntsman holders

MG News | December 15, 2023 at 11:20 AM GMT+05:00

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December 15, 2023 (MLN): The Board of Directors (BoD) of Archroma Pakistan Limited (PSX: ARPL) has resolved to allot and issue an aggregate of 445,460 ordinary shares of the company to the shareholders of Huntsman, the company's filing on the local bourse showed today.

To note, the company approved the merger by way of amalgamation earlier in October.

The share allotment will be done as per the swap ratio prescribed under the Scheme, based on the identities of the shareholders of Huntsman provided to the company by Huntsman.

As a consequence of the same, the issued and paid-up share capital of the company stands increased to Rs345.633 million, divided into 34.563m ordinary shares, having a face value of Rs10 each.

It was also resolved that the company will take all requisite steps to fulfill the requirements/post-merger completion steps and procedures in terms of the Scheme along with all actions ancillary thereto.

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