Karachi, Data Textiles Limited has recently revealed important dates regarding the suspension of trading and book closure, as well as the dissolution of the company by order of the Honorable Lahore High Court.
According to the announcement, the entitlement date for issuing shares of LSE Proptech Limited (LPL) and LSE Ventures Limited (LVL) to the shareholders of Data Textiles Limited (DATM) and LSEFSL is set for May 15, 2023. This means that the last trading date for DATM shares on the Pakistan Stock Exchange (PSX) will also be May 15, 2023.
Following the entitlement date, the book closure period will commence from May 17, 2023, and continue until May 19, 2023. During this time, shareholders will be required to adhere to the specified dates in order to be eligible for the entitlement of new shares from the surviving entities, LPL and LVL, based on the SWAP ratio.
Furthermore, Data Textiles Limited will be dissolved on May 26, 2023, by the Order of the Honorable Lahore High Court in Lahore. This dissolution will take place without the need for winding up procedures, signifying the final stage in the company's transition.