Ghani Chemical Industries enters into agreement with Karim Silk Mills Ltd

By MG News | August 18, 2020 at 03:54 PM GMT+05:00

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August 18, 2020 (MLN): Ghani Chemical Industries has signed an agreement with the majority shareholder of Karim Silk Mills Limited (under the process of winding up and delisting from PSX) for submission with the Honourable High Court and the SECP for the commencement of legal formalities for the revival of Karim Silk Mills.

The agreement has been signed to protect the interest of more than 1400 minority shareholders and filing of a merger scheme for sanction by the Court, as well as the ultimate listing of Ghani Chemical Industries Limited on the issuance of shares of Ghani Chemical Industries Limited to the shareholders of Karim Silk Mills Limited.

The aforesaid announcement was made by Ghani Global Holdings Limited, which also holds 99.39% shareholding in Ghani Chemical Industries, on PSX.

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