Islamabad, Feb 11: Gatron (Industries) Limited (PSX: GATI) has received approval from its Board of Directors to proceed with a Scheme of Arrangement in collaboration with Nova Frontiers Limited (NFL) and Ghani & Tayub (Private) Limited (G&T). This strategic restructuring plan is pending necessary approvals from the Honorable High Court of Balochistan in Quetta, as well as the shareholders of the involved entities. 
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As per the proposed arrangement, NFL will initiate the cancellation of shares held by specific categories of shareholders, collectively referred to as the Outgoing Shareholders. Consequently, this will lead to a proportional reduction in NFL’s share capital. Moreover, the 29.33% stake that Gatron currently holds through NFL will also be canceled in alignment with a valuation-determined ratio.
Instead of outright cancellation, Gatron will issue new shares to the Outgoing Shareholders, or their beneficial owners based on a SWAP ratio that will be assessed by an independent professional valuer.
This restructuring move is designed to streamline shareholding and ensure equitable distribution of ownership. Importantly, the implementation of this Scheme will not impact Gatron’s business operations, financial stability, or existing assets, ensuring continuity and stability for all stakeholders involved.
