Gatron (Industries) Limited has announced a shareholding restructuring plan involving Nova Frontiers Limited (NFL) and Ghani & Tayub (Private) Limited (G&T), according to a filing at the Pakistan Stock Exchange (PSX) on Tuesday.
However, the restructuring is subject to approval by the High Court of Balochistan and shareholders of the concerned companies.
“The Board of Directors of Gatron (Industries) Limited on February 10, 2025, has resolved to authorize the Company to enter into a Scheme of Arrangement (“Scheme”) with Nova Frontiers Limited (NFL) and Ghani & Tayub (Private) Limited (G&T), subject to the necessary approval by the Honorable High Court of Balochistan at Quetta and the shareholders of the respective companies,” read the notice sent to the PSX.
Under the proposed Scheme, NFL will cancel the shares held by certain categories of shareholders, resulting in a corresponding reduction in NFL’s share capital. As consideration for the aforesaid, the 29.39% shareholding of Gatron, currently held by NFL, will be canceled at a swap ratio determined through valuation.
Shares of Gatron will be issued to the Outgoing Shareholders/beneficial owners of NFL in lieu of the cancellation of their shareholding in NFL, based on a swap ratio determined by a professional valuer.
The company clarified that this restructuring will not affect Gatron’s business operations or assets. The move is part of a strategic realignment of ownership structures within the companies involved.
