PSO approves separation of Digicash, Solar segments

By MG News | Category Equity | October 24, 2024 at 03:57 PM GMT+05:00

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October 24, 2024 (MLN): The Board of Management of Pakistan State Oil (PSX: PSO) today resolved to separate the Digicash and Solar business segments from PSO and to merge them with other companies, subject to legal scrutiny and approval by the High Court.

Accordingly, DigiCash Undertaking will be merged into Cerisma (Private) Limited.

Whereas, Solar Undertaking will be merged into PSO Renewable Energy (Private) Limited.

This resolution includes any additional actions or documentation necessary to complete the transactions or to facilitate the transitions outlined.

It is also subject to the sanction (formal approval) by the High Court.

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