LSE SPAC-I Limited has received sanction from the Lahore High Court for a Scheme of Arrangement, leading to its merger with Ningbo Green Light Energy Limited (NGLE). This merger will result in SPAC1 being dissolved and its assets transferred to NGLE.
- SPAC1 will merge with NGLE, with NGLE continuing as the surviving entity.
- Shareholders of SPAC1 will receive 1.50 shares of NGLE for each share held.
- Entitlement Date: October 20, 2026; last trading day for SPAC1 is the same date.
- NGLE's authorized share capital will increase to PKR 2,100.00M post-merger.
- Total post-scheme issued shares of NGLE will be 204,852,747.
- SPAC1 will be dissolved without winding up following the completion of the merger.
- Tentative listing of NGLE on October 26, 2026, with opening price set at SPAC1's closing price on the entitlement date.