Ghani Chemical Industries Shareholders Approve Rs. 1.5 Billion Investment in Subsidiary

Ghani Chemical Industries Limited (PSX: GCIL) has secured shareholder approval for an investment of up to Rs. 1.5 billion in its associated/subsidiary company, Ghani ChemWorld Limited (GCWL). According to a filing on the Pakistan Stock Exchange (PSX), the investment will be extended in the form of advances and loans, disbursed as needed by GCWL. These financial arrangements will carry a minimum return equivalent to the 3-month KIBOR plus 110 basis points. The advances and loans are to be repaid within a three-year period from the date of disbursement, subject to agreed-upon terms and conditions. The resolution authorizing this investment will remain in effect for five years from the date it is approved by GCIL’s shareholders. Additionally, the Chief Executive Officer and/or Company Secretary of GCIL have been individually authorized to make decisions related to the investment as required.