Lahore January 24 2023: Securities and Exchange Commission of Pakistan (SECP) has allowed the Fauji Foods Limited to issue of 1,170,874,980 ordinary shares at par value of Rs.10 each, amounting to Rs.11,708,749,8001.
These shares will be 73.8 percent of existing issued ordinary shares of 1,584 million while represent 42.5 percent of after allotment total ordinary shares of the company.
The new shares will be issued by way of other than right offer under Section 83 (1) (b) of the Companies Act, 2017 read with regulation 5 of the Companies (Further Issue of Shares) Regulations, 2020 as follows:
|S.No.||Names of the shareholders||Mode of consideration (Rs.)||No. of shares to be issued|
|1||FFBL Power Company Ltd.||Fresh cash injection of Rs.4,000,000,000/-||400,000,000|
|2||FFC Energy Ltd.||Fresh cash injection of Rs.4,650,000,000/-||465,000,000|
|3||Fauji Foundation||Conversion of loan of Rs.2,000,000,000/-||235,000,000|
|4||Fauji Fertilizer Bin Qasim Ltd.||Conversion of mark-up on loans of Rs. 70,874,980||70,874,980|