Ghani Chemicals to Enter Power Generation and Gas Businesses

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Ghani Chemical Industries Limited (PSX: GCIL) has decided to enter into a power generation business and for this purpose to form a wholly owned subsidiary company of GCIL in the name of Ghani Power (Private) Limited and/or any other suitable name available with the SECP.

The company said in a letter to the main bourse today that it further intends to enter into new areas of the gas business, and for this purpose, intends to acquire/purchase an associated company named Ghani Gases (Private) Limited having nominal paid-up capital of Rs. 25,000/- by the GCIL at Rs. 100,000/- and to convert this associated company into wholly owned subsidiary company of GCIL subject to approval by shareholders of the Company.

The company further resolved to reschedule the Extra-Ordinary General Meeting of the Company for Saturday March 02, 2024, instead of Saturday February 24, 2024 with addition in agenda item.

It decided to reschedule the closure of Share Transfer Books of the Company from February 24, 2024 to March 01, 2024 instead of February 17, 2024 to February 23, 2024.

“Addendum/alteration in agenda items of the Extra-Ordinary General Meeting will be transmitted through PUCARS shortly,” the filing added.

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