Media Times Limited has announced that its Board of Directors has approved the exploration of a merger with any real estate company.
According to a notice sent to the Pakistan Stock Exchange (PSX), the Board of Directors, in its meeting held on 14 February 2024, authorised the company to explore the feasibility of potential merger of the company with any real estate company and upon finalisation by the management, alongwith the requisite documents, the same may be presented to the board for approval.
“The company has also been authorised to, inter alia, engage legal, financial and such other advisors and consultants as may be required for the purpose of merger and carry out other necessary steps and actions, including to conduct necessary evaluation/recommendation of the potential merger,” read the notice.
The company’s actions are in line with the requirements of the Securities Act 2015 and the rules of the Pakistan Stock Exchange. Stakeholders will be kept informed of the progress on this matter, as stated by Shahzad Jawahar, the Company Secretary of Media Times.
Media Times Limited primarily owns daily English and Urdu newspapers in the name of “Daily Times” and “AajKal” respectively.