BML to amalgamate with Global Haly Development, board approves

MG News | November 28, 2024 at 02:53 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 28, 2024 (MLN): The Board of Directors of Bank Makramah Limited (PSX: BML) has approved the Scheme of Arrangement for the restructuring of the Bank.

The approval is subject to the procurement of all applicable regulatory, corporate, and shareholders' approvals, as well as the sanctioning of the Restructuring Scheme by the Honorable High Court of Islamabad.

According to the terms of the restructuring scheme, Global Haly Development Limited (GHDL) will be amalgamated into the Bank.

As part of the process, fully paid ordinary shares of the Bank will be issued and allotted to the shareholders of GHDL.

The TFC Redemption Amount (as defined in the Restructuring Scheme) will be settled and paid through the issuance and allotment of fully paid ordinary shares of the Bank to TFC holders.

Additionally, the Bank's share capital will be reduced through the cancellation of share capital that is unrepresented by available assets.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	167,844.25 170.38M	-0.40% -670.20
ALLSHR	101,190.46 479.24M	-0.24% -244.65
KSE30	50,308.01 73.54M	-0.54% -271.17
KMI30	241,041.17 72.56M	-0.54% -1308.61
KMIALLSHR	65,768.91 266.90M	-0.34% -227.18
BKTi	45,905.17 27.93M	-0.59% -271.56
OGTi	35,557.92 7.24M	-0.32% -112.64

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	75,915.00	77,940.00 75,590.00	-1780.00 -2.29%
BRENT CRUDE	104.25	106.36 101.34	1.67 1.63%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-9.00 -7.56%
ROTTERDAM COAL MONTHLY	113.00	0.00 0.00	0.45 0.40%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	97.00	99.43 94.73	0.65 0.67%
SUGAR #11 WORLD	14.68	14.91 14.59	-0.22 -1.48%