ARM demerges in to rental, logistic business

Nilam Bano | November 30, 2022 at 10:10 AM GMT+05:00

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November 30, 2022 (MLN): The certificate holders of Allied Rental Modaraba (ARM) have resolved the company to be divided into two undertakings namely ARM Demerged rental business and ARM Demerged logistic, the company filing on PSX showed today.

Demerged rental business comprising of the assets, liabilities, obligations, and undertakings of the rental business while the logistic business comprised the assets, specified liabilities, obligations, and undertakings of the logistics business of ARM.

It was further resolved that Demerged rental business segment and ARM Demerged logistics business be transferred with and into Allied Engineering Management Company (Private) Limited and Allied Transport and Logistics (Private) Limited (ATL) and all ancillary matters including allotment of shares of AEMCL and ATL.

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