Walton Hi-Tech sets EGM for merger approval

Walton Hi-Tech Industries has scheduled an Extraordinary General Meeting (EGM) later this month to seek shareholder approval for its proposed merger with Walton Digi-Tech Industries Ltd, in line with directives from the High Court.
Referring to its earlier disclosure on the website of the Dhaka Stock Exchange on March 15, the company provided updates on the merger process, in which Walton Digi-Tech will act as the transferor entity and Walton Hi-Tech as the transferee.
Walton Digi-Tech is a Bangladeshi technology company, established in 2018, that manufactures and markets computers, laptops, mobile phones, tablets, computer accessories, networking products, and smart home devices. It is a subsidiary of the Walton Group.
Walton Hi-Tech Industries is a Bangladeshi multinational electronics conglomerate and manufacturer. Founded in 1977, it manufactures and exports refrigerators, freezers, air conditioners, compressors, televisions, and home appliances.
The record date for the EGM has been fixed for May 4. The meeting will be held virtually on May 21 at 11:00 am.
The company noted that the merger will be subject to obtaining all necessary approvals in accordance with the directives of the High Court.
Earlier, Walton Hi-Tech had received a no-objection letter for the merger, marking a key step in the consolidation of its technology and manufacturing operations under a single listed entity.

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