FFC extraordinary general meeting held

Islamabad : Fauji Fertilizer Company (FFC) held Extraordinary General Meeting, while establishing a quorum of 62.73 per cent with representation through videoconferencing and proxies from individual shareholders as well as from all major equity holders which included Fauji Foundation, State Life Insurance Corporation, Citi Bank, Deutsche Bank, MCB, NRL, NIT, Atlas and representatives from various other Corporate bodies and institutions, says a press release.

Brigadier (r) Asrat Mahmood, SI(M), Company Secretary FFC, opened the house.

He apprised the shareholders of the special business to seek Shareholders’ approval for acquisition of 100% shareholding of Foundation Wind Energy-I Limited (FWEL-I) and 80% shareholding of Foundation Wind Energy-II Limited (FWEL-II). The shareholders unanimously approved the proposed business acquisition.

Chief Executive and Managing Director FFC, Lt Gen (r) Tariq Khan, HI(M) 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.