DATM to dissolve on May 26

May 10, 2023 (MLN): Data Textile Limited (PSX: DATM) will be dissolved on May 26, 2023, as per the orders of the Honorable Lahore High Court (LHC) without the need for winding up, the company's filing on PSX revealed today. 

Earlier this month, the company informed PSX that the merger deal between LSE Ventures Limited (LVL), LSE Proptech Limited (LPL), and DATM has been finalized on Tuesday, involving the dissolution of DATM and the transfer of its assets and liabilities to LVL and LPL.

The deal also involves the demerger of LSE Financial Services Limited (LSEFSL).

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.

Shareholders of DATM and LSEFSL will receive shares of LVL and LPL according to this predetermined swap ratio.

The entitlement date for issuing shares of LVL and LPL to the shareholders of Data Textiles Limited (DATM) and LSE Financial Services Limited (LSEFSL) is May 15, 2023.

Accordingly, the entitlement date of issuing shares of LVL and LPL to the shareholders of DATM and LSEFSL shall be May 15, 2023, and the book closure will start from May 16, 2023, to May 19, 2023.

Copyright Mettis Link News