Islamabad: Secure Logistics Group Limited (SLGL) has announced the approval of a Scheme of Arrangement involving Trax Online (Private) Limited, sanctioned by the Islamabad High Court. This corporate restructuring, aimed at making Trax a wholly-owned subsidiary of SLGL, was approved on May 5, 2025, with the effective date set to April 1, 2025.

The sanctioned scheme involves transferring Trax's entire issued and paid-up share capital to SLGL, with SLGL issuing shares to Trax's shareholders in return. The high court's short order was made public on May 7, 2025, and the companies are set to implement the scheme as per the court's directions. The restructuring includes a reorganization of SLGL's shareholding and other related matters.

According to information available from the Pakistan Stock Exchange (PSX), this strategic move will allow Trax to focus on its e-commerce and warehousing business lines, complementing SLGL's long-haul and medium-haul transportation services. The group aims to become a leading 4PL player with a fleet of over 300 commercial vehicles, a network of offices across the country, and a substantial employee base.

The merger will see SLGL offering a diversified cash flow stream through logistics, asset tracking, and security services, supported by a team experienced in these areas. Trax will contribute through its technology platform and expertise in last-mile delivery and warehousing, enhancing the group's e-commerce capabilities.

The companies expect a 60% increase in net income for the year 2025, with projections shared during an Analyst Presentation at PSX on March 24, 2025. As the integration progresses, both SLGL and Trax are poised to leverage synergies and maximize value for shareholders.