CNERGY to restructure its business units for new investment

MG News | October 02, 2023 at 03:11 PM GMT+05:00

0:00

October 02, 2023 (MLN): The Board of Directors of Cnergyico PK Limited (PSX: CNYERGY) has granted in-principle approval to formulate and propose the terms for potentially carrying out a corporate reorganization/restructuring of the company and its group entities, the company's latest filing on the PSX showed today.

This involves segregating the company's business units by carving the same into separate subsidiaries to facilitate the generation of new investment in the business units and for better focus and management of the business units.

The BoD has given the green light to prepare necessary documents in this respect, upon finalization of which by the management, the same be presented to the BoD for their consideration and approval.

To proceed further in the matter, the BoD authorized the company to, inter alia, engage legal, financial, and such other advisors and consultants as may be required for the purposes of the above, and carry out other necessary steps and actions.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	157,953.47 555.47M	1.14% 1775.65
ALLSHR	96,741.22 1,957.60M	1.16% 1110.83
KSE30	48,198.94 249.79M	1.09% 520.47
KMI30	232,694.17 290.89M	1.31% 3011.94
KMIALLSHR	65,027.13 1,019.78M	1.03% 660.37
BKTi	42,489.56 84.10M	1.35% 566.75
OGTi	31,779.36 15.21M	0.14% 43.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,195.00	118,295.00 116,115.00	2370.00 2.05%
BRENT CRUDE	67.54	68.42 67.19	-0.41 -0.60%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	94.00	94.50 94.00	0.45 0.48%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.37	64.20 63.03	-0.33 -0.52%
SUGAR #11 WORLD	16.13	16.27 15.89	-0.14 -0.86%