G-Tech to merge fully with GCIL

MG News | October 14, 2022 at 05:16 PM GMT+05:00

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October 14, 2022 (MLN): The Lahore High Court on Oct 11 approved the merger of G3 Technologies Limited (G-Tech) with and into Ghani Chemical Industries Limited (GCIL), along with business, assets, and undertaking of G-Tech into Ghani Chemical Industries Limited (GCIL), the company’s filings on the stock exchange showed on Friday.

The company said the G-tech merger into GCIL is by combining the assets of both companies and share capital of their members into one company to bring significant value addition for the members of both the company.

The further company added, all the assets including property, stocks, bank deposits, all investments, and everything will be transferred into the name of G-Tech”.

During share transfer according to the scheme, “the opening price of GCIL shall be based on P/E ratio, which is determined on the basis of market equivalent share and earning potential of the merged balance sheet of both companies as determined by the auditor’s certificate, after taking the impact of swap ratio, but it should not be less than the par value of a share of GCIL”.

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