Karachi: Shareholders of Ghani ChemWorld Limited passed a series of special resolutions during an extraordinary general meeting on May 2, 2026, which authorized the company’s Board of Directors to issue Partially Redeemable Shares (PRS) by way of a right issue. This move was made in compliance with Regulation # 5.6.9(b) of the Pakistan Stock Exchange (PSX) Rule Book and pertinent sections of the Companies Act, 2017.

The extraordinary general meeting, which took place on a Saturday, resulted in the approval of the issuance of PRS equivalent to approximately 0.50% of the existing paid-up capital. This translates to the issuance of five Partially Redeemable Shares for every 1,000 Ordinary Shares held by current shareholders as of the entitlement date. The PRS will be issued with a par value of PKR 100 per share, of which PKR 90 is redeemable, and PKR 10 is irredeemable.

According to information available from the Pakistan Stock Exchange (PSX), the total issue size stands at 1,250,719 shares, amounting to PKR 125,071,900. The Board of Directors has been granted the authority to manage the issuance in one or more tranches, finalize operational matters, and ensure compliance with applicable laws.

The terms attached to these shares include participation in surplus assets only upon conversion into Ordinary Shares, a dividend rate to be decided by the Board, and a redemption condition that allows redemption only if adequate distributable profits are available. The shares are perpetual in nature, with a mandatory conversion of the irredeemable portion into Ordinary Shares within ten years.

The strategic move aims to strengthen the capital structure of Ghani ChemWorld Limited and offer existing shareholders an opportunity to increase their investment in the company. This decision reflects the company’s commitment to adhering to regulatory frameworks while pursuing growth and sustainability in the market.