GGL to issue cross-corporate guarantees of up to Rs1.19bn

By MG News | July 10, 2023 at 03:55 PM GMT+05:00

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July 10, 2023 (MLN): The shareholders of Ghani Global Holdings Limited (PSX: GGL) have authorized the company to issue additional cross-corporate guarantees of up to Rs1.19 billion to banks for financing facility to its subsidiary company namely, Ghani Chemical Industries Limited (PSX: GCIL), GGL’S filing on PSX revealed today.

“Further resolved that Chief Executive and the Company Secretary are hereby authorized to take any/all actions to implement and give effect to the above resolution and to complete all the necessary required corporate and legal formalities,” the notice further reads.

While writing this, the share of the company is being traded at Rs11.55, up by 6.45% or Rs0.70 on the day.

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