Gatron Industries Withdraws Scheme of Arrangement with NFL and G&T

Gatron (Industries) Limited has announced the withdrawal of its proposed Scheme of Arrangement with Nova Frontiers Limited (NFL) and Ghani & Tayub (Private) Limited (G&T). The decision was communicated in a disclosure to the Pakistan Stock Exchange (PSX). The Scheme, initially approved by Gatron’s Board of Directors on February 10, 2025, was subject to the approval of the Honorable High Court of Balochistan and the shareholders of the respective companies. However, NFL and G&T have now informed Gatron that their respective Boards have resolved to withdraw the proposed arrangement due to recent developments. Gatron clarified that its role in the Scheme was purely administrative and consequential, as the primary transaction was between the two corporate shareholders and their respective stakeholders. Following this development, Gatron’s Board, through a circular resolution, has also withdrawn its earlier approval of the Scheme. The company assured stakeholders that the withdrawal of the Scheme would have no impact on its shareholders, business operations, or assets. The parties involved will now begin the process of withdrawing the legal proceedings previously filed with the High Court of Balochistan. The announcement also marked the termination of the Closed Period, allowing trading in the company’s shares to resume