Lahore: Ghani Chemical Industries Limited (GCIL) conducted its 11th Annual General Meeting on October 27, 2026, where several resolutions were passed, according to the certified report issued by the company on October 28, 2026. The meeting addressed both ordinary and special business items, focusing on financial approvals and strategic investments.
In the ordinary business segment, the shareholders unanimously approved the annual accounts for the fiscal year ending June 30, 2026. The approval included the Directors' Report, Auditors' Report, Chairman's review report, and the Review Report of the Auditors on the Code of Corporate Governance.
Additionally, M/s ShineWing Hameed Chaudhri & Company, Chartered Accountants, were re-appointed as the company's auditors until the conclusion of the next annual general meeting scheduled for the year ending June 30, 2027. This decision was made with unanimous consent.
The special business section of the meeting highlighted significant investment decisions. Shareholders approved the enhancement of investment limits in associated entities through Long-Term Running Musharakah. Specifically, the investment cap in Ghani Global Holdings Limited was increased from Rs. 300 million to Rs. 500 million. Similarly, the investment in Ghani Global Glass Limited was raised from Rs. 1,500 million to Rs. 2,000 million, while Ghani ChemWorld Limited saw an increase from Rs. 2,000 million to Rs. 2,500 million.
Further resolutions approved the authorization for up to PKR 100 million investment in Ghani Gases (Private) Limited, with a return not less than a rate of 3 months KIBOR plus 1.10 basis points. This investment, structured as a Long-Term Running Musharakah, is designed to be repaid over three years.
Ghani Chemical Industries also received authorization to issue cross-corporate guarantees to banks for financing facilities. These guarantees include Rs. 300 million for Ghani Global Holdings Limited, Rs. 500 million for Ghani Global Glass Limited, and Rs. 200 million for Ghani Gases (Private) Limited.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions indicate strategic financial maneuvers by Ghani Chemical Industries to bolster its investment portfolio and ensure sustained growth across its associated companies. The resolutions remain valid for three years from the date of shareholder approval, with the CEO and Company Secretary given authority to execute necessary actions to implement these investments.
This series of approvals reflects Ghani Chemical Industries' commitment to expanding its financial engagements while maintaining compliance with the Companies Act, 2017.