Karachi: The Central Depository Company of Pakistan Limited has announced the issuance of new shares by Sapphire Fibres Limited (SFL) as per the Scheme of Arrangement in lieu of its merger with Reliance Cotton Spinning Mills Limited (RCML). The development was formalized following a confirmation letter dated April 23, 2026, and the requisite auditor certificate.

As part of the merger agreement, a total of 1,321,967 securities of Sapphire Fibres Limited have been credited into the respective accounts and sub-accounts within the Central Depository System as of the close of business on April 24, 2026. These shares have been exchanged with those of Reliance Cotton Spinning Mills Limited at a swap ratio of 0.40 shares of SFL for every one share of RCML, in line with the Merger Entitlement List dated April 16, 2026.

In conjunction with the merger, the securities of Reliance Cotton Spinning Mills Ltd. have been revoked from the Central Depository System. This marks a significant move in the consolidation of the involved entities.

According to information available from the Pakistan Stock Exchange (PSX), the revised paid-up capital for Sapphire Fibres Limited now stands at 24,871,228 shares. This adjustment reflects the integration of the newly issued shares post-merger.

The merger and related share issuance are part of strategic efforts to enhance operational synergies and market positioning for Sapphire Fibres Limited in the textiles market category. The successful execution of this merger is expected to have significant impacts on the company’s future operational strategies and market performance.