DH Partners, Cyan to merge into Dawood Lawrencepur

DH Partners Limited (DHPL) has announced plans to amalgamate with Cyan Limited into Dawood Lawrencepur Limited (DLL) through a court-approved Scheme of Arrangement. DHPL announced the development via a notice to the Pakistan Stock Exchange (PSX) on Tuesday. Under the proposed scheme, subject to the requisite corporate and regulatory approvals, including the sanction of the Islamabad High Court, Dawood Lawrencepur will be the surviving listed entity and will issue its shares to the shareholders of DH Partners and Cyan as consideration for the amalgamation. Shareholders of DH Partners, excluding Dawood Lawrencepur, will receive 4.7724 ordinary shares of DLL for every 100 ordinary shares held in DHPL, while Cyan shareholders will be “issued 7.2974 ordinary shares of DLL for every 100 ordinary shares” held.