Engro Holdings to Issue 722.9 Million Shares For Eligible Shareholders

The Board of Directors of Engro Holdings Limited (EHL) on Friday approved the allotment and issuance of an aggregate of 722.9 million ordinary shares having a face value of PKR 10/- each to all the eligible shareholders of Engro Corporation (PSX: ENGRO) whose name appears in the register of members dated January 7, 2025 (the Allotted Shares), in the manner as detailed in the Scheme. The Islamabad High Court approved the scheme on July 18, 2024. This comes after it was reported last week that Engro Corporation Limited (ENGRO) and Dawood Hercules Corporation Limited (DAWH) were set to finalize the restructuring process in line with the Scheme of Arrangement. Additionally, no fractional shares will be allotted and all fractional entitlements resulting from the application of the swap ratio (i.e. fractions amounting to less than one ordinary share of EHL) shall be consolidated into whole shares of EHL, These shares will be allotted in the name of the Company Secretary or any other person nominated by the Company Secretary in this regard, who shall hold such shares in trust and shall be disposed of in the manner as detailed in the Scheme.