Ghani Gases allotted 100mln shares under Scheme of Arrangement with Ghani Chemicals Industries

MG News | July 09, 2019 at 01:31 PM GMT+05:00

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July 9, 2019 (MLN): Ghani Gases Limited, in a recent notification to Pakistan Stock Exchange, has informed that it has been allotted 100 million ordinary shares by Ghani Chemical Industries Limited in consideration for the transfer of the Manufacturing Undertaking by Ghani Gases Limited.

The aforesaid move came after the Honorable Lahore High Court approved the Scheme of Compromises, Arrangements and Reconstruction between Ghani Gases Limited, Ghani Chemical Industries Limited and Ghani Global Glass Limited on March 12, 2019.

The Company has also prepared standalone and consolidated financial statements of the Company on the effective date of the Scheme i.e. July 1, 2019 which has been approved by the Board of Directors of the Company.

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