Nishat Chunian gets the approval for Scheme of Compromises, Arrangement and Reconstruction between NCL and NCECL

MG News | July 10, 2020 at 05:53 PM GMT+05:00

0:00

July 10, 2020 (MLN): Nishat (Chunian) Limited (NCL), via notification to Exchange has informed that the Honorable Lahore High Court has approved the Scheme for Compromises, Arrangement and Reconstruction between NCL and its wholly owned subsidiary NC Electric Company Limited (NCECL).

However, the notification stated that two of the changes that were resolved in Extra Ordinary General Meeting were inadvertently left out in the Court Order and in this regard, management has filed an application for correction of the order. Changes resolved by the shareholders were as follows:

The effective date of merger be changed from July 1^st to 30^th June 2020.
The authorized Share Capita of NCECL be merged with Authorized Share Capital of NCL

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,204.18 326.75M	-0.12% -200.31
ALLSHR	103,326.47 682.26M	-0.11% -115.78
KSE30	52,323.58 93.96M	-0.17% -90.21
KMI30	244,733.72 73.03M	0.04% 87.89
KMIALLSHR	67,164.58 409.64M	0.17% 114.30
BKTi	47,165.45 34.74M	-0.52% -248.09
OGTi	33,329.66 4.67M	-0.27% -90.09

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,530.00	90,610.00 87,910.00	1470.00 1.67%
BRENT CRUDE	61.95	62.16 60.53	1.48 2.45%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	0.00 0.00	0.30 0.31%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	57.91	58.13 56.60	1.39 2.46%
SUGAR #11 WORLD	15.04	15.09 14.83	0.22 1.48%