AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore: In a significant corporate development, the Lahore High Court has sanctioned the Scheme of Arrangement and Reconstruction, permitting the merger of MetaTech Trading Limited into Big Bird Foods Limited. The court’s decision, issued on June 26, 2024, follows the approval of the merger petition filed under case number C.0 43907/2023. This approval enables the complete transfer of business and undertakings from MetaTech Trading to Big Bird Foods.
According to information available from the Pakistan Stock Exchange (PSX), the Scheme of Arrangement has been ordered to take effect as per its outlined clauses and is to be incorporated as part of the judgment of the High Court. This merger is expected to consolidate the operations and assets of both companies, aiming for enhanced efficiency and market expansion.
The companies have committed to providing all necessary documents and information as outlined in Appendix-I of the PSX Rule Book. The disclosure and subsequent actions will be determined and announced by the Board of Directors of the respective companies in due course.
This legal approval marks a pivotal step in the merger process, setting the stage for the operational integration of MetaTech Trading and Big Bird Foods.