August 5, 2020 (MLN): The Board of Directors of Ghani Global Glass Limited, in their meeting held on Wednesday, August 5, 2020, has withdrawn the decision for divestment of the Company’s investment in its subsidiary, Ghani Chemical Industries Limited.
Besides this, the Board approved the expansion/diversification plans of its subsidiaries i.e. Ghani Global Glass Limited and Ghani Chemical Industries Limited.
The Board also approved to consider and examine the feasibility of investment in different areas, including but not limited to pharmaceutical, iron and steel, and modaraba, to diversify the Company’s business portfolio.
Further equity investment of up to Rs. 1,350 million in its subsidiaries i.e. Ghani Global Glass Limited and Ghani Chemical Industries Limited was approved by the Board, subject to approval by shareholders of the Company.
The Directors also approved the issuance of a cross corporate guarantee of up to PKR 750 million for its subsidiary Ghani Chemical Industries Limited, subject to the approval by shareholders of the company.
Lastly, the decision to increase the authorized share capital of the company from PKR 2 billion to PKR 3 billion was also approved, subject to the approval by shareholders of the company.
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