DSML, TPL sign MOU to explore merger

MG News | September 05, 2023 at 10:25 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 05, 2023 (MLN): The management of Dar Es Salam Textile Mills Limited (PSX: DSML) has entered into a Memorandum of Understanding (MOU) with TPL Life Insurance Limited (TPL Life) to explore the possibility of a potential merger and engage in discussions and negotiations, company’s latest filing on PSX revealed.

The notice states that the proposed transaction is subject to the finalization of deal terms, transaction documents, and obtaining of all requisite corporate and regulatory approvals, consents, and authorizations being obtained by both the company and TPL Life.

“We shall keep our shareholders updated with respect to this transaction by making further announcements as and when the transaction progresses further,” it further reads.

DSML is on the defaulter list on PSX and was involved in the business of manufacturing and selling yarn.

TPL Life is a subsidiary of TPL Corp (PSX: TPL), which has diversified investments across multiple business segments.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,884.59 165.82M	1.09% 1841.39
ALLSHR	103,297.23 574.85M	1.03% 1052.60
KSE30	50,883.00 85.37M	1.16% 585.22
KMI30	243,139.25 70.59M	1.05% 2522.69
KMIALLSHR	66,979.22 287.59M	0.99% 655.18
BKTi	47,642.11 15.25M	1.66% 776.54
OGTi	35,136.50 9.94M	0.68% 237.09

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,100.00	81,800.00 81,000.00	-230.00 -0.28%
BRENT CRUDE	103.37	105.00 101.92	-1.45 -1.38%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	5.00 4.00%
ROTTERDAM COAL MONTHLY	138.50	0.00 0.00	-0.15 -0.11%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	95.47	98.01 94.83	-1.76 -1.81%
SUGAR #11 WORLD	18.28	18.51 18.21	-0.04 -0.22%