Merger of Awwal Modaraba in ACRCL approved: PSX

MG News | June 09, 2022 at 12:47 PM GMT+05:00

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June 09, 2022 (MLN): The Certificate holders of Awwal Modaraba on Thursday unanimously adopted the approval of the merger of Awwal Modaraba with and into Awwal Corporate Restructuring Company Limited (ACRCL) with a swap ratio of 0.876 certificates, the company filing on PSX showed.

Accordingly, one share of ACRCL will be issued to the certificate holders of Awwal Modaraba against 0.876 certificates of Awwal Modaraba.

The aforesaid development is subject to the approval of the High Court of Sindh and to fulfillment of related legal formalities.

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