Karachi, Ghani Chemical Industries Limited has announced the conversion of Class B Ordinary shares into Ordinary shares, in compliance with the approval of the shareholders of the Company in their Extraordinary General Meeting held on April 17, 2023. The conversion will be made at the ratio determined by the Board of Directors of GCIL in their meeting held on April 29, 2023.
To determine the entitlement of Ordinary shares of GCIL to the shareholders of Class B Ordinary shares, the Share Transfer Books of the Company will remain closed from May 17, 2023, to Friday, May 19, 2023 (both days inclusive). Shareholders are advised to take note of the same and make necessary arrangements accordingly.
The conversion of Class B Ordinary shares into Ordinary shares is expected to result in increased liquidity and a more efficient capital structure for GCIL. The Company remains committed to delivering long-term value to its shareholders and stakeholders through strategic initiatives and operational excellence.