JDMT to merge with BCML on swap ratio of 1:1.4

News Image

By MG News | February 15, 2022 at 02:25 PM GMT+05:00

0:00

February 15, 2022 (MLN): The Board of Directors (BoD) of Janana De Malucho Textile Mills Limited, in the meeting held on February 15, 2022, has resolved that 2.13 million ordinary shares of the company be issued to the shareholders of Babri Cotton Mills Ltd. (BCML)on a swap ratio of 1 share of the company for every 1.438266 shares of BCML as per the scheme of arrangement for the merger, the company filing on PSX showed today.

It was further resolved that as per the approved scheme, the fractional shares, however, shall not be issued. All fractions less than a share shall be consolidated into whole shares, which shall be allotted to any one of the directors of the company upon trust to sell such shares and to pay the net sale proceeds realized (less the expenses of sale) to those of the registered holders of the Ordinary Shares in BCML who are entitled to fractions in proportion to their respective fractional entitlements.

It was also resolved that the Company shall take all requisite steps to fulfil the requirements / post-merger completion steps in terms of the Scheme along with all action's ancillary thereto.

To recall, the honourable Peshawar High Court passed the order on February 4, 2022, to make the scheme of arrangement merge BCML into JDMT.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 132,576.99
161.03M
-0.62%
-826.20
ALLSHR 82,983.68
903.36M
-0.25%
-204.38
KSE30 40,358.80
56.86M
-0.72%
-292.66
KMI30 190,727.32
67.92M
-0.71%
-1356.60
KMIALLSHR 55,698.48
457.08M
-0.27%
-149.22
BKTi 36,242.06
11.15M
-0.50%
-180.82
OGTi 28,323.42
10.71M
-0.40%
-114.19
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,560.00 110,265.00
108,625.00
345.00
0.32%
BRENT CRUDE 70.37 70.71
69.61
0.22
0.31%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.45
1.51%
ROTTERDAM COAL MONTHLY 108.00 109.00
107.95
0.90
0.84%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.56 68.94
67.70
0.23
0.34%
SUGAR #11 WORLD 16.54 16.61
16.08
0.41
2.54%

Chart of the Day


Latest News
July 09, 2025 at 05:27 PM GMT+05:00

Gold price in Pakistan falls Rs3,000 per tola


July 09, 2025 at 05:26 PM GMT+05:00

UBL crowned top performing Primary Dealer in FY25


July 09, 2025 at 05:11 PM GMT+05:00

SECP approves name change for Secure Logistics



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg