The Company has informed that after receiving BSECs consent the Board of Directors of Summit Power Limited (SPL) has approved further allotment of SPLs 10,67,91,361 Ordinary Shares of Tk. 10.00 each in favour of Summit Industrial and Mercantile Corporation (Pvt.) Ltd. (SIMCL) in exchange for acquisition of 20,39,71,500 shares of Tk. 10.00 each of Summit Meghnaghat Power Company Limited (SMPCL), equal to 30% of the SMPCLs Equity, in the ratio of 1.91 SMPCL shares for 1 share of Summit Power Limited.