NICL gets go-ahead for restructuring scheme

By MG News | August 30, 2023 at 09:43 AM GMT+05:00

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August 30, 2023 (MLN): The Board of Directors of Nimir Industrial Chemicals Limited (PSX: NICL) in its meeting held on Tuesday has approved the restructuring of the company with its subsidiaries as embodied in the draft of the scheme of arrangement (the "Scheme").

This is subject to the requisite approvals, consents and sanctions of the competent High Court and/or any other competent authority / regulatory body and subject to the approval of the members of the Company through special resolution.

The board further resolved that the Scheme in its entirety together with the relevant petition(s)/application(s) as may be required under applicable rules and regulations for filing before the Competent High Court, the Securities Exchange Commission of Pakistan, Pakistan Stock ExchangeLimited, Central Depository Company Limited and/or any other competent authority / regulatory body, as may be applicable.

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