Lahore: Trading in the shares of MetaTech Trading Limited (META) will be suspended starting from July 19, 2024, as the company prepares for an amalgamation with Big Bird Foods Limited (BBFL). This suspension is a direct result of a scheme of arrangement sanctioned by the Lahore High Court on June 26, 2024.
According to information available from the Pakistan Stock Exchange (PSX), the final date for the book closure has been set for July 23, 2024, following an official announcement from META on July 8, 2024. This critical date was communicated to shareholders through the PSX’s PUCARS system.
Under the terms of the approved arrangement, for every share held in META, shareholders are entitled to receive 0.24 shares of BBFL. This allocation is part of the strategic merger efforts as META integrates into BBFL.
Once all requirements related to the amalgamation are met, META will be officially delisted from the Pakistan Stock Exchange, with a separate notice to be issued regarding this matter.
Stakeholders are advised to make note of these developments and prepare for the upcoming changes to their investment portfolios.