PPA

Islamabad: Fauji Fertilizer Company (FFC) held Extraordinary General Meeting on November 23rd, 2023 while establishing a quorum of 48.28 percent with physical representation along with Video Conferencing and proxies from individual shareholders as well as from all major equity holders which included Government of Pakistan, Fauji Foundation, Citi Bank, Deutsche Bank, Standard Chartered Bank, Crescent Textile Mills, Atlas and representatives from various other Corporate bodies and institutions.

Brig Irfan Khan, T.Bt (Retd), Company Secretary FFC, opened the house. He apprised the shareholders of the special business to seek approval as required under Section 199 of the Companies Act, 2017 against charge of USD 3.5 million or its PKR equivalent on FFC’s assets as security in favor of TEL’s lenders, and the circulation of Company’s Annual Audited Financial Statements through QR enabled code and weblink as part of Annual General Meeting Notice. The shareholders unanimously approved the proposed resolutions through balloting.

Chairman, Mr. Waqar Ahmed Malik and Managing Director and Chief Executive Officer FFC, Mr. Sarfaraz Ahmed Rehman graced the occasion and responded to various queries from shareholders and assured FFC’s commitment to achieve higher standards of performance and to provide sustained earnings to the valued shareholders despite the challenging circumstances.