DATM, LSEFSL merge into LVL, await SECP approval for share transfer

MG News | June 12, 2023 at 04:12 PM GMT+05:00

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June 12, 2023 (MLN): Data Textiles Limited (PSX: DATM) and LSE Financial Services Limited (LSEFSL) have merged with LSE Ventures Limited (LVL) as per the approved scheme of amalgamation. The undertaking and business of both companies are now transferred and vested in LVL.

The shares of CDC, NCCPL, and PACRA, which are currently held by LSEFSL, are awaiting approval from SECP to be transferred to LVL. Once the approval is granted, the shares of LVL will be credited in the CDS of shareholders of LSEFSL.

The shareholders of LSEFSL will receive shares of LVL in exchange for their existing shares, as per the approved SWAP ratio.

Earlier this month, the company announced the merger deal between LVL, LSE Proptech Limited (LPL), and DATM, involving the dissolution of DATM and the transfer of its assets and liabilities to LVL and LPL.

Swap ratio for the issuance of LPL shares to the shareholders of LSEFSL, DATM, LVL are 0.35 per share, 0.025 per share, and 0.15 per share respectively.

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