Sindh High Court approves merger of TPL Life Insurance with DSML

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MG News | June 13, 2024 at 10:48 AM GMT+05:00

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June 13, 2024 (MLN): TPL Corp Limited (PSX: TPL) informed today that the merger of TPL Life Insurance Limited (TPL Life) with and into Dar Es Salaam Textile Mills Limited (DSML) has been sanctioned by the Honourable High Court of Sindh vide Order dated June 10, 2024.

By the sanctioning of the Scheme of Arrangement, all assets, rights, liabilities and obligations of TPL Life now stand amalgamated with, transferred to, and vested in DSML.

As a consequence of the merger, the name of Dar Es Salaam Textile Mills Limited shall stand altered to “TPL Life Insurance Limited”, along with the principal line of business.

This marks the TPL Group's 6th listing, further strengthening the group's market presence and this significant milestone underscores our commitment to growth and expansion. 

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