Lahore: Ghani Global Glass Limited has officially declared a buy-back of 24 million of its ordinary shares, representing 10% of its outstanding shares, in a move to bolster its treasury shares. The public announcement, complying with the Listed Companies (Buy-Back of Shares) Regulations, 2019, is set to be published in two newspapers, Daily Dawns (English) and Daily Ausaf (Urdu), on April 15, 2025. This strategic financial maneuver is aimed at optimizing the company's capital structure and enhancing shareholder value.
The purchasing initiative is scheduled to commence on April 21, 2025, with a completion date stipulated for October 09, 2025, or until the buy-back is finalized, whichever comes first. The shares, each carrying a face value of Rs. 10.00, will be acquired at a spot price not exceeding Rs. 12.00 per share through the Pakistan Stock Exchange Limited (PSX).
According to information available from the Pakistan Stock Exchange (PSX), this buy-back is part of a broader strategy by Ghani Global Glass Limited to manage its equity efficiently while ensuring compliance with statutory regulations. The company's registered office, located at 10-N, Model Town Ext. Lahore, will oversee the operation, with Company Secretary Farzand Ali appointed to address any queries and complaints related to the transaction.
It is important to note that the treasury shares acquired will not carry voting rights, nor will they receive cash dividends or any other asset distribution, except for the allocation of fully paid bonus shares. This strict adherence to treasury share conditions ensures that the company maintains a robust governance structure during the buy-back period.
Moreover, during the buy-back timeframe, no sales of shares by sponsors, directors, officers, associated companies, or undertakings of Ghani Global Glass Limited will occur, reflecting the company's commitment to regulatory compliance and ethical trading practices. This move underscores Ghani Global Glass Limited's proactive approach to nurturing investor confidence and sustaining its market presence in the designated market category.