Islamabad May 24 2022: Fauji Cement Limited has allotted 800,493,615 shares of Rs10 each of FCCL, credited as fully paid up to Fauji Foundation on 24th May 2022, duly sanctioned by Lahore High Court Rawalpindi bench, as per the scheme of arrangement for the amalgamation of Askari Cement Limited with and into Fauji Cement Limited.
Askari Cement Limited
The authorised share capital of ACL is Rupees ten billion (PKR 10,000,000,000/-) divided into one billion (1,000,000,000) ordinary shares of Rupees ten (Rs. 10) each, of which 160,098,723 ordinary shares are issued and fully paid-up. The entire issued and paid-up ordinary shares of ACL are held directly or indirectly through nominee directors by Fauji Foundation and hence ACL is a wholly owned subsidiary of Fauji Foundation.
Fauji Cement Limited
The authorised share capital of FCCL is Rupees fifteen billion (PKR 15,000,000,000/-) divided into one billion five hundred million (1,500,000,000) ordinary shares of Rupees ten (Rs. 10) each, of which 1,379,815,025 ordinary shares are issued, subscribed and fully paid-up. Thirty-nine-point four percent (39.4%) of the issued share capital of FCCL is held by Fauji Foundation.