April 09, 2024 (MLN): The Lahore High Court has approved the full merger of Modaraba Al Mali (PSX: MODAM) and LSE Proptech Limited (PSX: LSEPL) into LSE Capital Limited (LSECAP), filing of these entities on the local bourse revealed today.

Following this approval, the Board of Directors (BoD) of the companies has set the sanction date at April 03, 2024, and the completion date of the scheme is within 120 days of the sanction date.

Accordingly, LSE Capital Limited and LSE Financial Services Limited will be listed at the Pakistan Stock Exchange Limited (PSX) as per the approved scheme.

The last trading date for LSEPL and MODAM at PSX shall be April 19, 2024.

The board has also decided that the entitlement date for making various distributions and issuing shares under the Scheme shall be April 23, 2024 (for LSEPL and MODAM).

The opening price for both LSECAP shares and LSEFSL shares shall be Rs10 per share (i.e., face value).

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Posted on: 2024-04-09T12:33:41+05:00