Dawood Lawrencepur transfers 100% stake in Reon Energy

October 08, 2024 (MLN): Dawood Lawrencepur Limited (PSX: DLL) has completed the transfer of its entire shareholding in Reon Energy Limited (REL), amounting to 102.6 million shares, to Juniper International FZ LLC, the company's filing on PSX revealed today. 

This transaction, finalized on October 7, 2024, represents 100% of the issued and paid-up capital of REL.

The share transfer follows the terms and conditions outlined in the Share Purchase Agreement signed on March 22, 2023, between Dawood Lawrencepur and Juniper International.

The deal was approved by the company’s shareholders during the Annual General Meeting held on May 29, 2024.

Dawood Lawrencepur Limited was incorporated in Pakistan in the year 2004 as a publicly listed company.

It was formed as a result of a Scheme of Arrangement for Amalgamation in terms of the provisions of the (now repealed) Companies Ordinance, 1984 between Dawood Cotton Mills Limited (DCM), Dilon Limited (DL), Burewala Textile Mills Limited (BTM) and Lawrencepur Woollen and Textile Mills Limited (LWTM).

The company manages investment in its subsidiaries and associated companies and is engaged in the business of trading and marketing renewable energy solutions, mainly solar, to commercial and industrial consumers, along with the legacy textile business.

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