Ghani Chemical withdraws Rs650m investment resolution in Kilowatt Labs Technologies

News Image

MG News | March 04, 2024 at 03:25 PM GMT+05:00

0:00

March 04, 2024 (MLN): The shareholders of Ghani Chemical Industries Limited (PSX: GCIL) have resolved to withdraw the resolution passed by Service Fabrics Limited for an equity investment of Rs650 million in Kilowatt Labs Technologies Limited for the setup of a Super Capacitors Project.

This information was disseminated by the company through a notice issued to the Pakistan Stock Exchange (PSX) today.

It is important to note that Service Fabrics changed its name to G3 Technologies Limited and merged with GCIL.

Furthermore, the shareholders have decided to reallocate and utilize the right issue funds portion amounting to Rs650m received during September/ October 2021 by Service Fabrics Limited for the setup of the two ongoing projects of the company in Hattar Special Economic Zone.

One project is regarding the Import substitute Calcium Carbide manufacturing plant, and the other is the 275TPD ASU plant for manufacturing medical and industrial gases.

Based on the decisions, the shareholders have authorized the Chief Executive Officer and Company Secretary to do all such acts, deeds, matters, and things, as may be deemed necessary to give effect to the aforementioned resolutions.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 148,617.78
624.60M
0.86%
1274.27
ALLSHR 91,685.08
1,340.28M
0.74%
669.39
KSE30 45,247.79
197.43M
0.83%
370.74
KMI30 212,370.79
224.51M
1.05%
2209.48
KMIALLSHR 61,227.89
711.87M
1.18%
715.56
BKTi 41,264.02
160.39M
0.54%
221.73
OGTi 30,019.10
23.63M
0.64%
190.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,265.00 113,390.00
108,020.00
-4475.00
-3.97%
BRENT CRUDE 67.46 67.94
67.29
-0.52
-0.76%
RICHARDS BAY COAL MONTHLY 88.70 88.70
88.70
-0.75
-0.84%
ROTTERDAM COAL MONTHLY 96.15 96.75
96.00
-0.40
-0.41%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.01 64.55
63.88
-0.59
-0.91%
SUGAR #11 WORLD 16.34 16.52
16.33
-0.14
-0.85%

Chart of the Day


Latest News
August 30, 2025 at 04:28 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


August 29, 2025 at 06:04 PM GMT+05:00

SCRA inflows offset Rs8.5bn net selling


August 29, 2025 at 05:46 PM GMT+05:00

SECP cuts bonus, right issue timelines



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg