Dar Es Salaam Textile Mills Advances Merger Process; Hearing Set for Next Month

Karachi, Dar Es Salaam Textile Mills Limited has announced a significant step forward in their ongoing merger process, with a court hearing scheduled for the upcoming month. This development follows the company’s adherence to regulatory requirements set forth in the Companies Act 2017, specifically sections 279 to 283 and 285(b).

In their latest communication to the Pakistan Stock Exchange (PSE) dated April 1, 2024, the company relayed that the merger application has been approved by its Board of Directors and is now slated for a judicial review by the Sindh High Court. Dar Es Salaam Textile Mills has committed to reporting the outcome of this hearing to the PSE and will continue to keep its stakeholders informed on the progress of this significant corporate action.