DSML navigates legal procedures for integration with TPL Life

MG News | January 25, 2024 at 03:31 PM GMT+05:00

0:00

January 25, 2024 (MLN): Dar es Salaam Textile Mills Limited (PSX: DSML) is currently in the process of completing legal formalities regarding the merger agreement with TPL Life Insurance Limited, as informed by the company through its progress report issued to the PSX today.

To recall, the Board of Directors (BoD) of DSML on November 29, 2023, approved the merger of the entire business and undertaking of the company with and into TPL life.

Accordingly, as per the merger procedures, DSML filed the merger petition before the High Court of Sindh in Karachi.

According to the directions of the Sindh High Court, DSML held an extraordinary general meeting of its shareholders in December 2023, to seek approval for the Scheme for the merger, by way of amalgamation, of TPL Life with and into Dar Es Salaam Textile Mills Limited.

During the meeting, the shareholders of DSML, present and voting at the meeting, unanimously approved the Scheme.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,034.93 513.44M	1.52% 2679.44
ALLSHR	107,392.74 1,107.91M	1.22% 1297.66
KSE30	55,017.41 279.74M	1.86% 1007.08
KMI30	254,699.07 209.00M	1.60% 4013.10
KMIALLSHR	69,477.96 622.48M	1.19% 818.48
BKTi	50,802.42 123.06M	2.40% 1189.90
OGTi	36,086.91 28.98M	2.36% 830.36

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,250.00	90,705.00 88,720.00	1365.00 1.55%
BRENT CRUDE	60.06	61.38 60.02	-0.79 -1.30%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	0.55 0.64%
ROTTERDAM COAL MONTHLY	97.50	97.50 97.40	0.60 0.62%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	56.66	57.93 56.60	-0.76 -1.32%
SUGAR #11 WORLD	14.67	15.05 14.67	-0.34 -2.27%