Haji Mohammad Ismail Mills Limited has announced a significant merger with Sego Pakistan (Private) Limited, pending shareholder and court approvals. This merger will result in a name change and a shift in business focus towards the telecommunications sector.
- The Board of Directors approved a Draft Scheme of Arrangement for the merger on November 3, 2026.
- The merger involves the issuance of 244,831,768 ordinary shares of the Company to SPL shareholders at a swap ratio of 1.0875 shares of HMIM for each share of SPL.
- Following the merger, SPL will be dissolved without winding up, and its shares will be cancelled.
- The effective date of the Scheme is set for July 1, 2026.
- The Company will change its name to 'Sego Pakistan Limited' and will focus on mobile phones and telecommunications equipment.
- A joint petition regarding the merger will be filed with the Honorable High Court of Sindh at Karachi.