Lahore April 21 2025: Agritech Limited, the fertilizer manufacturer, to issue 174,439,105 ordinary shares of the Company according to terms of Shares Subscription Agreement against conversion of preference shares.
“Board of Director of the Company, by Resolution Through Circulation (RTC) dated April 17, 2025 has approved the conversion of Non-voting Convertible Preference Shares (NCPS) including accumulated dividend as of March 31, 2025, subject to review and certification by Auditor” states the filing to Pakistan Stock Exchange.
“Accordingly, 148,430,175 NCPS of various preference shareholders including accumulated dividend as of March 31, 2025 shall be converted to 174,439,105 ordinary shares of the Company in terms of Shares Subscription Agreement dated February 13, 2012” the filling added.
“The ordinary paid-up share capital of the Company will increase from 424,645,119 number of ordinary shares to 599,084,224 number of ordinary shares with the issue of above ordinary shares” it states.
“The Company is in process of completion of legal and procedural requirements for the conversion of preference shares into ordinary shares” the company added.
Agritech Limited was incorporated in Pakistan on 15 December 1959 as an unlisted Public Limited Company under the repealed Companies Act, 1913 (now the Companies Act, 2017). The principal business of the Company is the production and sale of Urea and Granulated Single Super Phosphate fertilizer.
