Gatron Board authorizes Scheme of Arrangement proposal

February 11, 2025 (MLN): The Board of Directors of Gatron (Industries) Limited (PSX: GATI) resolved to authorize the company to enter into a Scheme of Arrangement (Scheme) with Nova Frontiers Limited (NFL) and Ghani & Tayub (Private) Limited (G&T) on February 10, 2025.

This decision is subject to obtaining the necessary approvals from the Honorable High Court of Balochistan at Quetta and the shareholders of the respective entities.

Under the proposed Scheme, NFL will cancel the shares held by certain categories of shareholders (collectively referred to as the Outgoing Shareholders), resulting in a corresponding reduction in NFL’s share capital.

As consideration, the 29.33% shareholding of Gatron, currently held by NFL, will be canceled in a ratio determined through valuation, the company's filing on PSX revealed today. 

In exchange, new shares of Gatron will be issued to the Outgoing Shareholders/beneficial owners of the Outgoing Shareholders of NFL in lieu of their canceled shareholding in NFL, based on the SWAP ratio to be determined by a professional valuer.

It is further informed that the proposed Scheme will not have any impact on the business operations or assets of Gatron.

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