LMSM in process of reverse merger with Liven Pharmaceuticals
MG News | January 12, 2022 at 01:28 PM GMT+05:00
January 12, 2022 (MLN): Landmark Spinning Industries Limited (LMSM) is in the process of a reverse merger with Liven Pharmaceuticals (Pvt.) Ltd to recommence its business operations again, the progress report of the company revealed today.
The company’s operation has been suspended temporarily. However, according to the notice, it will commence operations as a merged company.
On Oct 29, 2021, the board of the company had decided to explore the possibility of a reverse merger with Liven Pharmaceuticals (Pvt.) Ltd. Subsequently, PSX on Nov 9, 2021, had informed that LMSM falls within the definition of a "Listed Shell Company" (Enclosed) and therefore the transaction for the merger of the company and the operating company is a reverse merger and shall be governed by the provisions of Regulation of the PSX Regulations.
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