February 19, 2021 (MLN): The Board of Directors of JS Investments Limited (JSIL) at its meeting held on February 19, 2021, has decided to proceed with the Merger/Amalgamation of JS ABAMCO Commodities Limited (JSACL) with and into JSIL.

JS ABAMCO Commodities Limited is a wholly-owned subsidiary of JS Investments Limited. Since JSACL does not intend to carry on the business of Futures Broker, the Directors of JSIL, being desirous of merging JSACL with and into JSIL, submitted a draft “Scheme of Arrangement for Merger/Amalgamation of JS ABAMCO Commodities Limited with and into JS Investments Limited” to the Securities & Exchange Commission of Pakistan (SECP) for its permission.

The SECP on January 13, 2021, granted its No Objection to the Scheme of Arrangement for Merger/Amalgamation of JS ABAMCO Commodities Limited with and into JS Investments Limited.

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