Lahore: LSE Financial Services Limited (LSEFSL) has scheduled an Extraordinary General Meeting (EOGM) for December 28, 2024, following a directive from the Lahore High Court. The meeting aims to secure shareholder approval for a proposed Scheme of Compromises, Arrangements, and Reconstruction involving LSEFSL and Digital Custodian Company Limited.

The agenda for the EOGM includes a special resolution for adopting the scheme, which seeks to restructure share capital and reserves, and facilitate the transfer of designated assets and liabilities. The scheme is pursuant to Sections 279 to 283 of the Companies Act, 2017, and involves the reconstitution of statutory funds administration responsibilities between the companies.

According to information available from the Pakistan Stock Exchange (PSX), the resolution also seeks shareholder approval for the terms and conditions detailed in the draft scheme, as well as any modifications ordered by the Lahore High Court.

The meeting notice was issued under the authority of Joint Chairmen Mr. Salah Umar Awan, Advocate, and Barrister Kamal Ali Khan, Advocate, as appointed by the Lahore High Court on December 2, 2024. The Chief Executive or Company Secretary of LSEFSL and Digital Custodian Company Limited have been authorized to engage with relevant authorities for the scheme's implementation.