Lahore High Court approves Systems Limited’s acquisition of Confiz

Systems Limited has received approval from the Lahore High Court (LHC) for its proposed merger with Confiz Pakistan (Private) Limited, clearing the way for implementation of the transaction approved by the company's board in December 2025.

In a notice submitted to the Pakistan Stock Exchange (PSX), Systems Limited said the court had sanctioned the Scheme of Arrangement governing the merger of Confiz into Systems Limited.

The company recalled that its Board of Directors had approved the acquisition of Confiz through a merger and amalgamation arrangement on December 10, 2025, under the provisions of Sections 279 to 283 and 285(8) of the Companies Act, 2017.

According to the filing, the transaction was contingent upon obtaining shareholder, creditor and regulatory approvals, along with completion of legal formalities.

Systems Limited informed investors that all required approvals and consents have now been secured.

The company stated that the Lahore High Court, through its order dated May 6, 2026, in the matter of Systems Limited and Confiz Limited (C.O. No. 4862 of 2026), approved the petition jointly filed by the two companies and sanctioned the merger scheme.

According to the notice, the court found that the arrangement was not detrimental to the interests of shareholders and creditors. The company quoted the court's position that the scheme was "not prejudicial to the interests of the shareholders and creditors of the Company."

As a result of the court order, the merger arrangement has been deemed effective from January 1, 2026.

Following the approval, Systems Limited and Confiz will proceed with the remaining implementation steps, including the determination of the record date, the identification of eligible Confiz shareholders and the calculation of their entitlements under the approved scheme.

The company will subsequently issue shares to Confiz shareholders in accordance with the terms of the Scheme of Arrangement.