Lahore High Court Greenlights AEL-SIL Merger and Share Allocation Plan

In a significant development, the Lahore High Court has given the official nod to the restructuring/arrangement plan facilitating the merger of AEL Textile Limited (PSX: AEL) into Stylers International Limited (SIL), as revealed in the company’s filing on the Pakistan Stock Exchange (PSX) today.

Following the successful completion of the merger and amalgamation process outlined in the approved scheme, AEL will undergo dissolution without winding up. Subsequently, shares of SIL will be issued to the registered members of AEL.

Under the endorsed scheme, SIL is set to be listed at the Pakistan Stock Exchange Limited (PSX), opening new avenues for trading and investment opportunities.

It's noteworthy that AEL's core business revolves around the generation and distribution of electricity, while SIL, as an associated company of AEL, specializes in the manufacturing, export, and sale of readymade garments.

This move not only consolidates the operations of both entities but also diversifies their market presence, creating synergies between the energy and textile sectors.