UGRO Capital's board approved merging its wholly-owned subsidiary, Profectus Capital (PCPL), with itself.

This strategic move aims to strengthen the combined entity's asset mix with higher secured assets, expand its market reach, and unlock operational efficiencies.

The merger is set to optimize capital utilization, streamline operations, and enhance value for all stakeholders through robust synergies.

As PCPL is a wholly-owned subsidiary, there will be no share swap or change in UGRO Capital's existing shareholder pattern.

The amalgamation awaits standard regulatory and shareholder approvals.