Islamabad, Dec 24: Fauji Fertilizer Company Limited (FFC) has announced its Board of Directors’ approval of the company’s Business Plan 2025, outlining significant developments related to its merger with Fauji Fertilizer Bin Qasim Limited (FFBL).
In a notice issued to the Pakistan Stock Exchange (PSX), FFC detailed key steps following the Scheme of Arrangement, sanctioned by the Lahore High Court’s Rawalpindi Bench on September 26, 2024. These include the issuance of shares to FFBL shareholders and post-merger formalities aimed at seamless integration.
FFC will issue 150,870,449 ordinary shares to eligible FFBL shareholders (excluding FFC and its nominees) as of December 26, 2024, the Record Date. The share swap ratio is set at 1 FFC share for every 4.29 FFBL shares. Fractional shares will be adjusted according to the provisions outlined in the Scheme.
No fractional shares will be issued. Instead, all such entitlements will be consolidated into whole shares held in trust under the name of the Company Secretary or a designated nominee. These shares will be sold, with proceeds (after expenses) donated to a registered charitable institution.The Board also authorized the company’s management to execute all post-merger actions necessary to complete the integration in line with the approved Scheme.
This development aligns with FFC’s broader vision for growth and operational synergy as part of its strategic roadmap for 2025. The merger is expected to enhance efficiency, streamline operations, and create value for shareholders while adhering to regulatory and legal requirements.
