PSX Will Suspend Trading GTECH

PSX Will Suspend Trading GTECH

PSX will suspend trading GTECH upon merger with GCIL

The Pakistan Stock Exchange (PSX) has informed all interested parties that the trading of G3 Technologies Limited (GTECH) shares on the Ready Board will be suspended from Thursday 03 November 2022 for the claim to the shares of Ghani Chemical Industries Limited (GCIL).

Lahore High Court Order October 11, 2022, approves the Scheme of Merger for the combination of GTECH with and into GCIL. GTECH’s vide letter dated 19 October 2022 announced the book’s deadline of 05 November 2022, which was communicated through PUCARS on the PSX website. Under the Regulatory Scheme, GTECH shareholders will be granted 0.3 GCIL shares versus 1 GTECH share.

In this regard, G3 Technologies Limited (GTECH) futures trading for DFC-NOVB and DFC-DEC will be shortened; whereas DFC-OCTB matures according to standard practice.

Therefore, the last trading day for the above futures contracts is Friday 28 October 2022 and the corresponding settlement date is Tuesday 1 November 2022.

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When all of the conditions will get completed, GTECH will be removed from the exchange, and a notification will be sent and issued separately.

PSX will suspend trading GTECH upon merger with GCIL