Gillette Pakistan Limited has resolved to proceed with an orderly business closure and voluntary delisting from the Pakistan Stock Exchange (PSX), following a meeting of the Board of Directors on October 2, 2025.
The decision comes after the Procter & Gamble Company, parent of Gillette Pakistan, decided to discontinue its business in Pakistan as part of its global restructuring program.
The Board granted approval for the company to commence preparatory steps for the closure, subject to legal and regulatory requirements, and authorized key officials, including the CEO, CFO, and Company Secretary, to take necessary actions for implementation.
The company’s majority shareholder, Series Acquisition B.V., intends to buy back the outstanding securities listed on the PSX, with plans to delist the company from the exchange.
The Board approved the submission of a formal delisting application to PSX and outlined the process, including convening a general meeting of shareholders within 30 days of agreement on the purchase price, as per PSX’s Voluntary Delisting Rules.
The company also plans to close its Share Transfer Books for seven days prior to the general meeting for shareholders to approve the delisting. The buyback price and other terms will be determined in accordance with PSX regulations.
The Board further authorized the appointment of purchasing agents, consultants, and other advisers to assist with the delisting process.
The resolutions passed at the meeting were certified by the Company Secretary, Moosa Haroon.
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