KARACHI: Fauji Fertilizer Company (FFC) held Extraordinary General Meeting on Friday while establishing a quorum of 56.81 percent with representation through Video Conferencing and proxies from individual shareholders as well as from all major equity holders which included Fauji Foundation, State Life Insurance Limited, Citi Bank, Deutsche Bank, Atlas and representatives from various other Corporate bodies and institutions.
Brig Asrat Mahmood, SI(M) (Retd), Company Secretary FFC, opened the house. He apprised the shareholders of the special business to seek Shareholders’ approval notwithstanding the special resolution passed by the shareholders of the Company in the EGM held on July 27, 2021. The approval is accorded in terms of Section 199 of the Companies Act, 2017 to assign its rights, benefits and interests in respect of any investment made in the Foundation Wind Energy-I Limited and Foundation Wind Energy-II Limited by way of subordinated loan. The shareholders unanimously approved the proposed resolution.
Chairman, Waqar Ahmed Malik and Managing Director and Chief Executive Officer FFC, 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.
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