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KARACHI: The Board of Directors of Orix Leasing Pakistan Ltd (OLP) has resolved to recommend amalgamation of Orix Investment Bank Pakistan (OIB) with OLP. According to a communiqué dispatched to Karachi Stock Exchange (KSE) here Monday, the merger of OIB into OLP was in the best interest of OLP.
The board proposed the swap ratio of 43:1, whereby one ordinary share of Rs10 each of OLP will be allotted against 43 shares of OIB. The OLP has convened an extra-ordinary general meeting on June 29, 2009, to discuss this matter.-APP
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