LMSM’s Reverse Merger Faces Further Delay Due to Court Adjournment
The aim remains for the company to operate as a merged entity, but this goal has been affected by the recent adjournment.
Karobar
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Landmark Spinning Industries Limited (PSX: LMSM) has encountered a delay in its planned reverse merger with an unlisted operating company. The court has adjourned proceedings, leading to a pending status for the merger arrangement.
In the quarterly progress report for the period ending December 31, 2023, released to the local bourse today, the company revealed this development.
Previously, on May 20, 2022, a joint petition seeking approval for the Scheme of Arrangement was filed in the High Court of Sindh at Karachi.
