Lahore: LSE SPAC-I Limited has announced a significant development in its corporate strategy with the approval of a merger with Ningbo Green Light Energy Limited. This decision was reached through a resolution passed by the company’s Board of Directors on June 3, 2026.
The Board has endorsed the Special Purpose Audited Financial Statements of LSE SPAC-I Limited for the period ending May 15, 2026. Moreover, they have initiated proceedings to file a Scheme of Compromise, Arrangement, and Reconstruction under Sections 279 to 283 of the Companies Act, 2017. This scheme, proposed between Ningbo Green Light Energy Limited and LSE SPAC-I Limited, is pending approval from the Honourable Lahore High Court.
According to the details released, the effective date for this scheme is set for May 15, 2026, although it may be adjusted subject to approval from the Lahore High Court. The merger, once sanctioned by the court and upon completion of all regulatory requirements, will result in LSE SPAC-I Limited being absorbed into Ningbo Green Light Energy Limited. Consequently, Ningbo Green Light Energy Limited will emerge as the resultant listed entity on the exchange.
A swap ratio has been determined for this merger, with 1.50 ordinary shares of Ningbo Green Light Energy Limited to be issued in exchange for every ordinary share of LSE SPAC-I Limited. Meanwhile, LSE SPAC-I Limited will continue its operations as usual until the scheme receives the necessary legal sanction.
According to information available from the Pakistan Stock Exchange (PSX), these developments have been communicated to all TRE Certificate Holders to ensure transparency and compliance with stock exchange regulations.
This move marks a significant step in the strategic alignment and corporate restructuring of LSE SPAC-I Limited, underscoring its commitment to growth and operational efficiency in the market.