Systems Limited has approved the acquisition of Confiz Pakistan (Private) Limited through a merger, according to a notice submitted to the Pakistan Stock Exchange (PSX) under Sections 96 and 131 of the Securities Act, 2015, on Thursday.
The company said its Board of Directors, through circular resolutions passed on December 10, 2025, approved the amalgamation of Confiz and its direct and indirect group companies with and into Systems Limited under a draft Scheme of Arrangement prepared in accordance with Sections 279 to 283 and 285(8) of the Companies Act, 2017.
Under the proposed structure, Systems Limited will issue its own shares to the shareholders of Confiz as consideration for the merger.
The company stated that the Scheme will require approvals from shareholders, creditors, and regulators, along with sanction from the Lahore High Court. It added that the arrangement remains subject to any changes required during the approval process or amendments deemed necessary.
The Board also approved the draft Scheme and accompanying transaction documents. Systems Limited authorised its CEO, CFO and Company Secretary—each acting severally—to negotiate, finalise and execute the Scheme, related agreements, and applications, and to undertake all steps necessary to implement the proposed merger.
The post Systems Limited approves Confiz Pakistan acquisition via share swap appeared first on Profit by Pakistan Today.