Karachi: The Sindh High Court has approved the merger of Amer Cotton Mills (Private) Ltd with Reliance Cotton Spinning Mills Limited, a move that is expected to consolidate operations under the Companies Act, 2017. The court order, issued on November 15, 2024, paves the way for the amalgamation under Sections 279 to 283 of the Companies Act.

According to the disclosure made under the Securities Act, 2015, Reliance Cotton Spinning Mills Limited conveyed the court’s decision in compliance with the Rule Book of Pakistan Stock Exchange Limited. The certified court order regarding the merger was included in the disclosure, ensuring transparency for stakeholders.

According to information available from the Pakistan Stock Exchange (PSX), the merger aligns with regulatory requirements, including Section 96 and Section 151 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book. The decision is expected to be communicated to the Trading Rights Entitlement Certificate (TREC) holders at the Exchange.

The formal approval by the Sindh High Court marks a significant step in the merger process, facilitating the integration of Amer Cotton Mills (Pvt.) Ltd into Reliance Cotton Spinning Mills Limited.