PICIC Insurance requests PSX to extend the deadline for compliance of its regulations

MG News | March 26, 2020 at 02:43 PM GMT+05:00

0:00

March 26, 2020 (MLN): PICIC Insurance Company Limited is currently under the process of merger with Crescent Star Foods (Pvt.) Ltd. (CSF) whereby CSF will merge with and into the company. The company will be doing FMCG business by acquiring all the franchise rights held by CSF.

The merger petition is in the final stages of hearing and was scheduled to be fixed in the last week of March. However due to unexpected suspension of all Court proceedings due to COVID 19 virus all cases have been discharged and the merger date will now be fixed once the High Court resumes work.

All documentation and requirements to effect the merger has been completed by the company and it is expecting that the merger will be sanctioned by the Hon’ble High Court as soon as the High Court resumes work.

Keeping the interests of all stakeholders, the company has requested PSX to maintain its current status by extending the deadline for compliance of PSX regulation and not suspend the trading of the company’s shares.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	157,279.27 62.30M	0.71% 1101.45
ALLSHR	96,269.65 210.48M	0.67% 639.26
KSE30	48,010.71 56.72M	0.70% 332.24
KMI30	231,612.26 33.68M	0.84% 1930.04
KMIALLSHR	64,819.74 87.35M	0.70% 452.98
BKTi	42,333.59 31.67M	0.98% 410.79
OGTi	31,681.76 4.80M	-0.17% -54.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,745.00	118,295.00 116,115.00	1920.00 1.66%
BRENT CRUDE	67.77	68.01 67.50	-0.18 -0.26%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.50	93.50 93.50	0.15 0.16%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.50	63.82 63.24	-0.55 -0.86%
SUGAR #11 WORLD	16.23	16.59 16.23	-0.33 -1.99%