Fauji Fertilizer to Issue 150.87 Million Shares to FFBL Shareholders 

Fauji Fertilizer Company Limited (PSX: FFC) Tuesday announced that its Board of Directors has approved company’s Business Plan 2025.  In a notice to the Pakistan Stock Exchange (PSX) the company said that in pursuance of the Scheme of Arrangement dated September 26, 2024, between the Company and Fauji Fertilizer Bin Qasim Limited (FFBL), as sanctioned by the order of the Lahore High Court, Rawalpindi Bench, the Board of Directors considered and approved the following actions:  (a) To allot and issue an aggregate of 150,870,449 ordinary shares of the Company to the eligible shareholders of FFBL (being the members of FFBL other than the Company or its nominees, if any), existing as of the Record Date (being 26 December 2024), on the basis of a swap ratio of one ordinary share of FFC for every 4.29 ordinary shares of FFBL (subject to the adjustment of fractional shares/entitlements, if any), in the manner as detailed in the Scheme and in accordance with the details and entitlements of such members of FFBL that will be provided by FFBL to the Company on or after the Record Date.  (b) No fractional shares will be allotted under the Scheme and all fractional entitlements resulting from the application of the swap ratio (i.e. fractions amounting to less than one ordinary share of FFC) shall be consolidated into whole shares of FFC, which shall be allotted in the name of Company Secretary or any other person nominated by Company Secretary in this regard, who shall hold such shares in trust, which shall be disposed as deemed fit and the proceeds from which (less expenses) shall be donated to a registered charitable institution.  In the above regard and to fulfil all post-merger completion steps and procedures in terms of the Scheme, the Board has authorized the management of the company to undertake, perform and complete all formalities and actions on behalf of the company that are required pursuant to the scheme, the notice added.