AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Landmark Spinning Industries Limited has provided an update regarding its ongoing reverse merger with an unnamed operating unlisted company, aimed at enhancing operational capabilities and market presence. This update follows the company’s last progress report dated April 3, 2024, and is in compliance with PSX Regulation 5.11.2(b).
According to information available from the Pakistan Stock Exchange (PSX), the merger process involves regulatory and procedural steps including a joint petition filed with the High Court of Sindh at Karachi on May 20, 2022. Despite the initial court proceedings being adjourned, new hearing dates have been set within this current quarter.
The update, which aligns with regulations 5.22 and 5.11(e) of the PSX, reflects the company’s commitment to regulatory compliance and transparency during the merger process. The management has assured stakeholders that all significant developments or updates will be communicated promptly.
Landmark Spinning Industries continues to monitor the proceedings closely and remains dedicated to maintaining transparency and adhering to all regulatory requirements as this merger progresses.