GCIL set to increase paid-up share capital with conversion of Class B shares

MG News | April 17, 2023 at 01:45 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 17, 2023 (MLN): The shareholders of Ghani Chemical Industries Limited (PSX: GCIL) on Monday resolved to approve the conversion and merger of 22 million Class B ordinary shares into ordinary shares, the company's filing on PSX showed today.

This move will result in an increase in the company's paid-up share capital from 478.18 million shares to 500.18mn shares.

The Class B ordinary shares, which were non-cumulative, non-participation, non-voting, and convertible, will be merged into Ordinary Shares in a ratio of 1:1, meaning one Ordinary Share will be issued against one Class B ordinary share.

It is important to note that after the conversion of Class B ordinary shares with and into ordinary shares of the company, the paid-up capital on account of Class B ordinary shares shall be deleted in the books of accounts/financial statements of the company and Class B ordinary shares of GCIL shall be de-listed from the PSX and also deleted from the list of eligible security in Central Depository System (CDS).

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	176,157.69 307.80M	2.18% 3757.79
ALLSHR	106,056.63 631.25M	2.05% 2128.73
KSE30	52,617.83 162.06M	2.31% 1189.67
KMI30	252,347.47 151.85M	2.27% 5604.39
KMIALLSHR	68,868.24 365.96M	2.03% 1368.30
BKTi	47,957.49 38.49M	2.09% 983.20
OGTi	35,575.88 6.83M	1.12% 392.35

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,715.00	66,055.00 63,430.00	2055.00 3.23%
BRENT CRUDE	83.22	85.93 82.67	-4.11 -4.71%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	3.75 3.14%
ROTTERDAM COAL MONTHLY	131.00	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	80.42	82.42 79.70	-4.46 -5.25%
SUGAR #11 WORLD	13.66	13.76 13.66	-0.04 -0.29%