Gatron to cancel G&T shares, issue new ones
MG News | April 21, 2025 at 01:15 PM GMT+05:00
April 21, 2025 (MLN): The Board of Directors of Gatron (Industries) Limited (PSX: GATI) has resolved to move forward with a key step in its ongoing restructuring efforts under the proposed scheme of arrangement with Nova Frontiers Limited and Gani & Tayub (Private) Limited (G&T).
Through a Resolution by Circulation dated April 21, 2025, and in continuation of its earlier approval on February 10, 2025, the Board has authorised the cancellation of G&T’s 2.98% shareholding in the Company, amounting to 3,240,774 shares.
In place of this, new shares will be issued directly to the shareholders of G&T.
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