DSML's name changed to TPL Life Insurance

By MG News | November 28, 2024 at 03:38 PM GMT+05:00

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November 28, 2024 (MLN): The name of Dar Es Salaam Textile Mills Limited (PSX: DSML) has officially been changed to TPL Life Insurance Limited.

DSML informed market participants of this development through a notice issued to PSX today.

This change has been implemented in accordance with the Certificate of Incorporation on Change of Name, which has been duly issued and certiied by the Securities and Exchange Commission of Pakistan (SECP).

In November 2023, the Board of Directors (BoD) of TPL Life approved the merger of the entire business and undertaking of TPL Life with and into DSML.

On implementation, DSML issued shares to the shareholders of TPL Life based on a swap ratio of one ordinary share of DSML for every one ordinary share of TPL Life held by its shareholders.

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