Lahore, March 27, 2015 (PPI-OT): Due to merger of Libaas Textile Limited with and into Ghani Global Glass Limited, LSE decided to delist Libaas Textile Limited from the Ready Board Quotations of the Exchange with effect from March 31, 2015. After the de-listing of this company the number of Companies listed at LSE would reach to 432.
The shareholders of Libaas Textile Ltd. and Ghani Global Glass Ltd. in their respective EOGMs held on December 12, 2014 approved the Scheme of Arrangement for the Merger of Libaas Textile Ltd. with and into Ghani Global Glass Ltd. Lahore High Court vides its Order dated January 27, 2015 has approved the Scheme of Arrangement.
As per Scheme of Arrangement the shareholders of Libaas Textile Ltd. allotted shares of Ghani Global Glass Ltd. in a swap ratio of 2:1. The register of shareholders of Libaas Textile Ltd. has been finally closed on February 26, 2015. Ghani Global Glass Ltd. will be technically listed at Lahore Stock Exchange after fulfilment of necessary regulatory requirements.
Further to our Notice No. 0626 dated February 13, 2015, concerning suspension of trading of Libas Textile Limited . It is hereby informed to all concerned that Libaas Textile Limited as a result of amalgamation/merger with an into Ghani Global Glass Limited shall stand delisted from the Lahore Stock Exchange with effect from Tuesday, March 31, 2015. It is further informed that Ghani Global Glass Limited will be listed on the Exchange upon fulfilment of the relevant requirements as applicable in this behalf.
Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry congratulated the management/stakeholders of the Company on successfully completing the amalgamation/merger process with and into Ghani Global Glass Limited.
MD also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. Lahore Stock Exchange is a fully electronic and completely automated stock exchange of Pakistan that is the only domestic exchange to have more than one trading floors in the region.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan