The shareholders of Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) have approved the sale of land owned by the company located at Pindi Bhattian for Rs. 856 million to Fauji Foundation.
The sale of the land owned by the company measuring 166.387 acre, located at Pindi Bhattian, to Fauji Foundation for the total price of Rs. 856,458,000 (i.e., Rs. 5,147,385 per acre) is hereby approved, the company said in a notice to the Pakistan Stock Exchange (PSX) on Monday.
In an earlier notice, dated August 09, 2024, the company announced that its Board has resolved to recommend, for the approval of shareholders, the sale of the land owned by the company measuring 166.387 acres, located at Pindi Bhattian, to Fauji Foundation.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan