The Board of Directors of Gatron (Industries) Limited (PSX: GATI) on February 10, 2025, authorized the company to enter into a Scheme of Arrangement (Scheme) with Nova Frontiers Limited (NFL) and Ghani & Tayub (Private) Limited (G&T).
The arrangement is subject to the necessary approval by the Honorable High Court of Balochistan at Quetta and the Shareholders of the respective companies.
Under the proposed Scheme, NFL will cancel the shares held by certain categories of shareholders (collectively referred to as the Outgoing Shareholders), resulting in a corresponding reduction in the NFL’s share capital, the filing stated.
The 29.33 percent shareholding of Gatron, currently held by NFL will be canceled upto the ratio determined through valuation and new shares of Gatron will be issued to the Outgoing Shareholders/beneficial owners of outgoing shareholders of NFL instead of cancellation of their shareholding in NFL based on SWAP ratio to be determined by a professional valuer.
The proposed Scheme will not have any impact on the business operations or assets of Gatron, the filing added.
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