Islamabad, Jan 6: The Board of Directors of Engro Holdings Limited approved the appointment of Abdul Samad Dawood as the new Chief Executive Officer, succeeding Mohammad Shamoon Chaudry. The change took effect on the same date, and the board expressed its appreciation for the contributions made by Mohammad Shamoon Chaudry during his tenure.
Stock Price Adjustments and Scheme of Arrangement
- Engro Holdings Limited has finalized the details of stock price adjustments following the Scheme of Arrangement, which was approved by the Islamabad High Court on July 18, 2024 and became effective on January 1, 2025.
- The restructuring involves Engro Corporation Limited (Engro Corp) and DH Partners Limited (DHPL).
- Key computations following the Scheme are as follows:
- Ex-price of Engro Holdings Limited Shares: The revised ex-price of Engro Holdings Limited shares, effective January 6, 2025, is Rs. 216.29.
- Opening Price of DHPL Shares: DHPL shares, which will be allocated to Engro Holdings Limited’s shareholders, will debut on the Pakistan Stock Exchange (PSX) at their calculated opening price.
Stock Price Details as of January 3, 2025
- Closing Price of Engro Holdings per Share: Rs. 275.28
- Closing Price of Engro Corp per Share: Rs. 485.38
- Ratio of Engro Holdings Shares to Engro Corp Shares under the Scheme: 2.24407865
