Karachi March 28 2024: Engro Fertilizer approved to extend of loan to its associated company Engro Polymer & Chemical in the aggregate amount of PKR 5 billion in the Annual General Meeting of the company.
“Approval for the Company to extend to its associated company, Engro Polymer & Chemicals Limited, an intercompany loan in the aggregate amount of up to PKR Five billion (PKR 5,000,000,000) comprising of, inter alia, loans, advances and/or security in any form (including without limitation guarantees, government securities, cash, listed/unlisted securities etc.) on an arm’s length basis, in the form of a revolving line of credit valid for a period of one year from the date of the special resolution, which may be renewed by the Company for up to four consecutive periods of one year each” states the disclosure provided by Engro Fertilizer.
