SHC Allows Landmark Spinning Industries to Merge With Liven Pharmaceuticals

The Sindh High Court vide Order dated September 02, 2024, has sanctioned the Scheme of Arrangement for the merger by way of amalgamation, of the entire business and undertaking of Liven Pharmaceuticals (Pvt.) Limited (LPL) with and into Landmark Spinning Industries Limited (PSX: LMSM). After the sanctioning of the Scheme of Arrangement, all assets, rights, liabilities, and obligations of LPL, now stand amalgamated with, transferred to, and vested in the Company. As a consequence of the merger, the name of Landmark Spinning Industries Limited shall stand altered to Liven Pharma Limited, along with the change in the principal line of business after complying with the applicable legal and regulatory formalities. The principal activity of the Company is trading, manufacturing, and sale of yarn. The company’s scrip at the bourse closed at Rs. 41.38, up 8.87 percent or Rs. 3.37 with over 37,000 shares on Monday.