BRR Guardian Modaraba and BRR Guardian Limited Announce Merger, High Court Sanctions Scheme of Arrangement

Karachi, BRR Guardian Modaraba and BRR Guardian Limited have officially announced the approval of their merger through a Scheme of Arrangement, as sanctioned by the Honorable High Court of Sindh at Karachi on April 29, 2023. The court ruling, passed in A.G. M of 2022, paves the way for the amalgamation of BRR Guardian Modaraba with and into BRR Guardian Limited, effective from July 1, 2022.

With this merger, the operations previously conducted by BRR Guardian Modaraba will be continued under the umbrella of BRR Guardian Limited, maintaining the same address.

According to the terms of the Scheme of Arrangement, each Modaraba Certificate of face value Rs. 10/- held by the certificate holders of BRR Guardian Modaraba will be exchanged for 1 ordinary share of face value Rs. 10/- of BRR Guardian Limited. To facilitate this transition, the Register of Certificate holders of BRR Guardian Modaraba will be closed on June 27, 2023, for the purpose of determining the eligible certificate holders entitled to receive shares in BRR Guardian Limited.

All certificate holders are urged to notify the Share Registrar of any change in their address, as mentioned below, in order to facilitate the surrendering of BRR Guardian Modaraba certificates.