Lahore: Ningbo Green Light Energy Ltd (NGLE) announced the completion of its share credit process as part of a court-sanctioned scheme, following the dissolution of LSE SPAC-I Limited (SPAC1). This announcement was made on October 26, 2026, under the Scheme of Compromises, Arrangement and Reconstruction, approved by the Lahore High Court on September 30, 2026.

NGLE, serving as the surviving entity, confirmed that the Central Depository Company of Pakistan Limited completed the share credit process, which aligns with the sanctioned Scheme. The shares were credited to the entitled shareholders' accounts, marking a significant step in the process.

The share structure under the Scheme was detailed as follows: sponsors' shares increased from 15,011,800 to 165,852,744, and shares held by SPAC1 for distribution rose from 3,530,000 to 39,000,003. This totals an increase from 18,541,800 to 204,852,747 shares.

According to information available from the Pakistan Stock Exchange (PSX), the Scheme included the issuance of additional NGLE shares and the transfer and vesting of assets and liabilities as anticipated. Consequently, SPAC1 has been dissolved without winding up, adhering to the court's order.

The completion of these processes has also led to the cancellation of SPAC1’s Annual General Meeting, which was initially scheduled for October 28, 2026. This cancellation was announced by NGLE as the surviving company post-dissolution.

The designated market category for this development is the energy sector, emphasizing the strategic financial and operational restructuring undertaken by NGLE and the dissolved SPAC1 under legal supervision.