The Board of Directors of Ghani Chemical Industries Limited (PSX: GCIL) in their meeting held today has approved the Demerger/Merger Scheme of Compromises, Arrangement, and Reconstruction (the Scheme) to list Ghani ChemWorld Limited (GCWL) at PSX.
This Scheme is subject to approval by the Lahore High Court, and all other related matters, the company said in a stock filing on Monday.
The main features of the Scheme are as under:
The Scheme will be circulated to the PSX and shareholders in due course subject to directions/order of the Honorable Lahore High Court and in accordance with the applicable law, the filing added.
At the time of filing, GCIL’s scrip at the bourse was Rs. 10.92, down 2.93 percent or Rs. 0.33 with over 2.25 million shares on Monday.
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