KARACHI: Fauji Fertilizer Company (FFC) held extraordinary general meeting on Friday at its head office, Rawalpindi thus establishing a quorum of 60.29 percent with representation from all major equity holders which included Fauji Foundation, State Life Insurance Corporation, Deutsche Bank, Standard Chartered Bank and representatives from various other Corporate bodies and institutions.
FFC company secretary Brig Asrat Mahmood, SI(M) (retd) opened the house. He apprised the shareholders of the special business to approve investment in Fauji Fertilizer Bin Qasim Limited (FFBL) by way of subscription of right issue and pass the ‘special resolution’ under Section 199 of the Companies Act 2017 and Companies (Investment in Associated Companies or Associated Undertaking) Resolutions 2017.The proposed resolution was unanimously approved by the shareholders.
FFC chairman Waqar Ahmed Malik and chief executive and MD Lt-Gen Tariq Khan, HI(M) (retd) 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.—PR
Copyright Business Recorder, 2020
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