KASB Modaraba merges with First Prudential Modaraba

By MG News | August 12, 2022 at 03:22 PM GMT+05:00

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August 12, 2022 (MLN): KASB Modaraba resolved the Scheme of Arrangement for the merger of KASB Modaraba with and into First Prudential Modaraba, the notice issued to PSX showed today.

In the extraordinary general meeting held today, certificate holders of KASB Modaraba also resolved that the merger will be based on a swap ratio of 1 certificate of First Prudential Modaraba for every 1.62 certificates of KASB Modaraba. However, it is subject to the approval of the High Court of Sindh and to fulfillment of related legal formalities

It has been further resolved that the Chief Executive Officer and/or the Company Secretary have been authorized singly/jointly to take or cause to be taken any or all acts, deeds and things as may be considered necessary or appropriate for implementation of the Scheme of Arrangement and all actions necessary for the completion of the Scheme, the notice said.

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