Conversion of Class B Shares to Ordinary Shares Completed by Ghani Chemical Industries Limited

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Lahore, Ghani Chemical Industries Limited (GCILB) has successfully completed the conversion of Class B shares into Ordinary Shares of the Company, following the approval granted by the shareholders during their Extra Ordinary General Meeting held on April 17, 2023.

Class B shareholders received one Ordinary Share for every Class B share held, as per the conversion ratio of 1:1. This initiative aims to streamline the shareholding structure and enhance the efficiency of the company’s capitalization.

The conversion process was finalized on August 21, 2023, with the new Ordinary Shares being credited to the accounts of Class B shareholders in the Central Depository Systems (CDS). This seamless transition signifies the commitment of Ghani Chemical Industries Limited to uphold the interests of its valued shareholders.

For Class B shareholders who possess physical share certificates, the company has provided clear guidelines for the conversion process. Shareholders are advised to surrender their original Class B share certificate(s) to the Company’s Share Registrar, M/s Corplink (Private) Limited, situated at Wings Arcade, 1-K, Commercial, Model Town, Lahore.

To ensure a smooth exchange process, shareholders must accompany their physical share certificates with a verified transfer deed (if applicable) and a certified copy of their Computerized National Identity Card (CNIC). This requirement ensures the authenticity and security of the share conversion.

The company encourages Class B shareholders to undertake this conversion as promptly as possible to avoid any inconvenience and to align their shareholding with the company’s revised structure.

Ghani Chemical Industries Limited remains dedicated to enhancing shareholder value and maintaining transparent and efficient corporate processes. The completion of the conversion underscores the company’s commitment to meeting the highest standards of corporate governance and fostering a strong relationship with its shareholders.

Shareholders and stakeholders alike look forward to witnessing the positive impact of this conversion on the company’s financial standing and the future prospects of Ghani Chemical Industries Limited in the market.

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