LAHORE: Kohinoor Power Company on Monday announced it had given an approval for its merger with Saritow Spinning Mills Company, which is a listed company on the Pakistan Stock Exchange (PSX).
In a notification sent to the Pakistan Stock Exchange (PSX) on Monday, Kohinoor Power Company Limited announced its board of directors had given go-ahead in principle for the merger/amalgamation of the company with and into Saritow Spinning Mills Limited.
The notification stated the scheme of arrangement for the merger would be presented to the board in due course for the go-ahead and remains subject to obtaining all requisite permissions/approvals and its sanctioning by the honourable Lahore High Court, Lahore and subject to fulfilment of all requisite legal requirements.
Moreover, Kohinoor Power Company Limited (KPCL) said after getting the necessary go-ahead from the board, the scheme will be circulated to the stock exchange.
