MULTAN: Lahore High Court Multan Bench ne Mahmood Textile Mills Limited (MTML) aur uski wholly-owned subsidiary MG Apparel Limited ke darmiyan restructuring aur assets transfer ka Scheme of Arrangement officially sanction kar diya.
Justice Abid Hussain Chattha ne detailed faisla sunate hue kaha ke Scheme Companies Act 2017 ke Sections 279 se 285 ke mutabiq poori tarah se lawful hai, aur tamam legal formalities puri ki gayi hain.
Court ke mutabiq:
- MTML ke Transferred Assets aur Undertakings jinki Net Assets Value (NAV) Rs. 3.587 billion hai, ab MG Apparel ko transfer ho jayenge.
- Badle mein MG Apparel apne 30 million fully paid-up shares MTML ko issue karega, per share value Rs. 87.985 hogi, jisme Rs. 77.985 share premium shamil hai.
- MG Apparel ke share premium ki value transfer ke baad Rs. 2.339 billion record ki jayegi.
- Revaluation surplus Rs. 947.5 million bhi MG Apparel ki equity mein add hoga.
Report ke mutabiq, dono companies ke Extra Ordinary General Meetings (EOGMs) 30 June 2025 ko hui jahan shareholders ne Scheme ko lagbhag mutafiqana taur par approve kiya.
Faislay mein yeh bhi wazeh hua ke:
- MG Apparel tamam tarah se MTML ki wholly-owned subsidiary rahegi.
- Bifurcation ka maqsad operations ko specialized taur par chalana aur business efficiency improve karna hai.
- Kisi stakeholder — including SECP, CCP, ya creditors — ne koi substantive objection raise nahi ki.
Court ne Scheme ko Annex-A ka hissa banate hue Companies ko hidayat di ke woh faislay ki certified copy SECP ko as per law submit karein.
Yeh restructuring MTML ke business ko streamline karegi aur MG Apparel ko independent operational footprint provide karegi, jisse mustaqbil ke IPO plans aur investor engagement mein asani hogi.
