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	174,453.94 378.71M	-2.87% -5149.79
ALLSHR	104,971.25 768.15M	-2.82% -3049.94
KSE30	53,198.53 164.55M	-2.97% -1629.79
KMI30	246,378.79 122.98M	-2.77% -7017.29
KMIALLSHR	67,606.67 353.71M	-2.49% -1723.51
BKTi	49,956.50 81.12M	-3.77% -1956.89
OGTi	34,148.45 27.47M	-2.58% -904.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,990.00	70,170.00 67,325.00	-845.00 -1.23%
BRENT CRUDE	68.63	68.76 67.32	0.88 1.30%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-2.25 -2.29%
ROTTERDAM COAL MONTHLY	105.05	105.05 105.05	0.20 0.19%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	63.75	63.87 62.49	0.86 1.37%
SUGAR #11 WORLD	13.55	13.57 13.42	0.07 0.52%