Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

MPS Preview: High for Longer

LMSM’s reverse merger arrangement faces further delay with court’s adjournment

Landmark Spinning Industries to resume operations after successful reverse merger
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January 03, 2024 (MLN): Landmark Spinning Industries Limited's (PSX: LMSM) scheme of arrangement for a reverse merger with an unlisted operating company remains pending as the court has further adjourned the proceedings for new dates.

The company disclosed this information in its progress report for the quarter ended December 31, 2023, issued to the local bourse today.

Moreover, the intention is for the company to commence as a merged entity.

To recall, on May 20, 2022, a joint petition was filed in the High Court of Sindh at Karachi on May 20, 2022, seeking the approval of the Scheme of Arrangement.

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Posted on: 2024-01-03T15:46:08+05:00