Ghani Chemical Industries Limited Clarifies Incorporation Status of G3 Oil & Gas Conversion LLP
Ghani Chemical Industries Limited (GCIL) has issued a material information disclosure to the Pakistan Stock Exchange (PSX), clarifying the incorporation status of G3 Oil & Gas Conversion LLP (the LLP) and its intended role in the company’s proposed gas project operations.
In a letter dated October 5, 2026, addressed to the General Manager of the Pakistan Stock Exchange, the company stated that G3 Oil & Gas Conversion LLP, previously described as being “under formation,” was incorporated with the Securities and Exchange Commission of Pakistan (SECP) on October 2, 2026, under the Limited Liability Partnership Act, 2017.
The disclosure follows the company’s notice regarding its Extraordinary General Meeting (EOGM), dated September 18, 2026, which was scheduled for October 10, 2026. The earlier notice and its accompanying statement of material facts had referred to the LLP as being in the process of formation.
According to the company, the LLP is intended to serve as the project vehicle for the Sono Lashari, Jandran and Maiwand gas projects. It will also operate as the entity through which the proposed Class B Tracking Shares relating to the relevant business unit will be managed.
GCIL further clarified that references to the LLP as “under formation” in the EOGM notice and its annexures should now be read in light of its incorporation. However, the company emphasized that the proposed investment, guarantees, transfer of project assets, related arrangements and issuance of Class B Tracking Shares remain subject to the requisite shareholders’ approval at the EOGM, as well as other applicable approvals and conditions specified in the notice.
The company requested the Pakistan Stock Exchange to inform the holders of its TRE Certificate accordingly.
The disclosure provides shareholders and market participants with an update on the legal status of the LLP associated with the proposed gas projects. While incorporation represents a formal step in establishing the project vehicle, the proposed transactions remain conditional on the necessary shareholder and regulatory approvals.
