LSE SPAC-I shareholders unanimously approve merger scheme with Ningbo Green Light Energy

Shareholders of LSE SPAC-I Limited have unanimously approved the proposed scheme of compromise, arrangement and reconstruction with Ningbo Green Light Energy Limited (NGLE), paving the way for the merger to proceed, subject to approval from the Lahore High Court (LHC).

According to a notification submitted to the Pakistan Stock Exchange (PSX) on Monday, the resolutions were passed during the company's Extraordinary General Meeting held on July 18, 2026. The disclosure was made under Clause 5.6.9(b) of the PSX Rule Book.

Shareholders approved the draft scheme providing for the merger of LSE SPAC-I into Ningbo Green Light Energy Limited, along with the reconstitution of the share capital, reserves and equity structure, the issuance of NGLE shares and the transfer of designated assets and liabilities in accordance with the terms set out in the scheme.

The shareholders also authorised the boards of LSE SPAC-I and NGLE, or their respective chief executive officers or company secretaries, to take all necessary steps to implement the scheme after it receives the required sanction from the Lahore High Court.

In addition, the boards were empowered to make any amendments, modifications or additions to the scheme, including changes to the distribution ratio, if required by the Lahore High Court or the SECP to facilitate implementation.

Shareholders further authorised the boards to amend the memorandum and articles of association in line with the scheme or any changes directed by the Lahore High Court or the Securities and Exchange Commission of Pakistan without seeking further shareholder approval.