Gatron Industries Cancels Scheme of Arrangement with NFL and G&T, Confirms No Impact on Shareholders
Gatron (Industries) Limited has officially withdrawn its proposed Scheme of Arrangement with Nova Frontiers Limited (NFL) and Ghani & Tayub (Private) Limited (G&T). The announcement was made in a formal disclosure to the Pakistan Stock Exchange (PSX).
Initially approved by Gatron’s Board of Directors on February 10, 2025, the scheme required the consent of both the Honorable High Court of Balochistan and the shareholders of the companies involved. However, due to recent developments, NFL and G&T informed Gatron that their respective boards had decided to cancel the arrangement.
In its statement, Gatron clarified that its involvement in the process was purely administrative and secondary, as the main agreement was between the two corporate shareholders and their stakeholders. Following this update, Gatron’s Board of Directors—via a circular resolution—formally retracted its earlier approval.
The company reassured investors and stakeholders that the withdrawal would have no effect on its shareholders, operations, or asset base. Legal proceedings related to the scheme, previously filed with the High Court of Balochistan, will now be withdrawn by all parties.
Additionally, the company confirmed the end of its Closed Period, paving the way for trading in Gatron’s shares to resume on the Pakistan Stock Exchange.
