Karachi October 20 2022: Under the approved scheme of merger of GTECH with GCIL, the SWAP ratio is 0.30 share of GCIL against every one share of GTECH, according to clarification given by the GTECH.
For example a shareholder who hold 1,000 shares of GTECH on the entitlement date will get 300 shares of GCIL.
The entitlement date of issuing shares of GCIL to the shareholders of GTECH shall be November 02, 2022 and GTECH will not be tradeable after this date.
The opening listing price of GCIL share shall be Rs. 37.55 per share.
Moreover, Class B shares of the GTECH will be issued in Ghani Chemical Industries Limited (GCIL) as Class B Shares of GCIL with same terms and conditions as given in Article 18.B of the Articles of Association of GTECH.
Class B share of GCIL will be traded separately under different symbol and its opening listing price will be Rs. 10.00 (the issue price).
