Awwal Modaraba approves business closure, delisting ahead of merger

MG News | June 06, 2023 at 03:47 PM GMT+05:00

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June 06, 2023 (MLN): The board of directors (BoD) of Awwal Modaraba (AWWAL: PSX) has approved the closure of business on June 09, 2023.

This is in reference to their earlier notice dated June 01, 2023, regarding the final and permanent book closure of the certificate transfer register of Awwal Modaraba.

Awwal Modaraba and Awwal Corporate Restructuring Company Limited (ACRCL) are set to undergo a merger through an amalgamation process.

The requirements of PSX with regard to the submission of requisite information/ documents required for delisting are also fulfilled.

The notice further stated that ACRCL would be an unlisted entity under Article 4.01 of the approved Scheme of Arrangement.

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