Lahore: The Lahore High Court has sanctioned a significant corporate restructuring involving Ghani Chemical Industries Limited, as outlined in an order dated February 20, 2025. This restructuring, under the Companies Act of 2017, facilitates the transfer of the "Calcium Carbide Project" from Ghani Chemical Industries Limited to Ghani ChemWorld Limited.
The approved Scheme of Compromises, Arrangement, and Reconstruction also involves the transfer of certain assets from Ghani Products (Private) Limited to Ghani Chemical Industries Limited. Additionally, shares of Ghani Chemical Industries Limited owned by Ghani Products (Private) Limited will be distributed to the shareholders of Ghani Products, while Ghani ChemWorld Limited will receive additional shares of Ghani Chemical Industries Limited.
According to the restructuring plan, the authorized capital of Ghani Chemical Industries Limited will be adjusted to reflect the new corporate structure. The authorized capital for ordinary shares is set at Rs. 8,000,000,000, while the newly introduced Class B shares have an authorized capital of Rs. 1,000,000. Ghani ChemWorld Limited's authorized capital for ordinary shares is Rs. 2,510,000,000, with partially redeemable shares at Rs. 41,010,000.
Issued capital sees significant changes post-restructuring. Ghani Chemical Industries Limited's ordinary shares will increase from Rs. 5,001,880,000 to Rs. 5,704,519,000. Ghani ChemWorld Limited's issued capital for ordinary shares will rise from Rs. 500,000 to Rs. 2,501,440,000.
The shareholding pattern of Ghani ChemWorld Limited will transform substantially. Before the scheme, Ghani Chemical Industries Limited held 49,993 shares, which will remain unchanged, but Ghani Global Holdings Limited will now hold 139,879,150 shares. The general public and others will own 63,428,657 shares, increasing the total share count to 250,143,950.
According to information available from the Pakistan Stock Exchange (PSX), Ghani Chemical Industries Limited will issue 70,000,000 ordinary shares to Ghani ChemWorld Limited. The total number of ordinary shares for Ghani Chemical Industries Limited will rise from 500,187,971 to 570,451,931, reflecting the impact of the restructuring.
The free float of shares for Ghani ChemWorld Limited will be available once the final list of shareholding is prepared after the entitlement date. The revised share capital under the scheme shows Ghani ChemWorld Limited's ordinary shares increasing by 9,000,000, reaching a total of 260,000,000 shares. The partially redeemable shares will increase to 10,000,000.
This restructuring marks a pivotal moment for the Ghani Group, which has a history spanning six decades across various sectors such as silica sand, rock salt, coal mining, textiles, and more. The group's listed companies on the Pakistan Stock Exchange include Ghani Global Holdings Limited, Ghani Global Glass Limited, and Ghani Chemical Industries Limited, which was listed on the exchange in November 2022.