SME Leasing Board greenlights closure strategy
MG News | May 15, 2025 at 03:16 PM GMT+05:00
May 15, 2025 (MLN): The Board of Directors of SME Leasing Limited (PSX: SLL) has approved the company's Winding Down Plan.
The plan was also endorsed by the Board of Directors of SME Bank Limited its parent company during a meeting held on May 6, 2025.
Following the approval, SME Bank Limited issued a letter to the Securities and Exchange Commission of Pakistan on May 13, 2025, requesting a deferment of the proceedings initiated for the winding-up order of SME Leasing Limited.
The Winding Down Plan includes the closure of branches, employee layoffs, relocation of the Head Office, and the sale or disposal of the company’s immovable properties, the company's filing on PSX revealed today.
It also proposes the sale or disposal of the leased portfolio to another operational leasing company, and eventually, the sale of SME Leasing Limited itself, with the expectation that this would generate a better price in a shorter timeframe compared to a formal liquidation process.
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