Oct 13, 2026, 1:18 PM
Lahore High Court order concerning the LSE SPAC-I and Ningbo Green Light Energy scheme
Scheme / ArrangementLSE SPAC-I Limited submitted a Lahore High Court order concerning the scheme of compromise, arrangement and reconstruction with Ningbo Green Light Energy Limited (NGLE). The scheme provides for SPAC-I to merge into NGLE, which would continue as the surviving company, with SPAC-I dissolved without winding up, subject to the scheme's conditions and applicable law. The supplied judgment pages describe unanimous shareholder approval at the companies' extraordinary general meetings; the operative order is not visible in the supplied pages.
Key Findings
- The scheme proposes the merger of LSE SPAC-I Limited into Ningbo Green Light Energy Limited, with NGLE as the surviving company.
- SPAC-I shareholders approved the scheme unanimously; votes represented 18,148,954 shares, approximately 69.80% of SPAC-I's issued share capital.
- The judgment states that NGLE's voting table recorded seven votes in favour and none against.
- The scheme includes transfer and vesting of designated assets and liabilities, reconstruction of share capital, and allotment of NGLE shares to SPAC shareholders according to the prescribed entitlement ratio.
Disclosure Details
Entities Involved
LSE SPAC-I Limited, Ningbo Green Light Energy Limited, Securities and Exchange Commission of Pakistan
Approvals Required
Fulfilment of conditions stipulated in the scheme and applicable law
Impact
The scheme proposes that LSE SPAC-I merge into NGLE, which will continue as the surviving company, while SPAC-I will be dissolved without winding up. SPAC shareholders are to receive NGLE shares under the prescribed entitlement ratio.
Risks
Disclosure
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.