Big Bird Foods seeks shareholder nod to convert Rs1.5bn director loans into equity

MG News | September 29, 2025 at 10:13 AM GMT+05:00

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September 29, 2025 (MLN): Big Bird Foods Limited (PSX: BBFL) has proposed converting outstanding loans of Rs1.5 billion payable to its directors into equity, the company informed the Pakistan Stock Exchange.

The proposal, presented by the Chief Executive Officer to the Board, suggests issuing shares at Rs49.42 per share, a price calculated based on the average market price over the last three months.

The move is aimed at strengthening the company’s capital base.

Since the transaction directly involves directors, most board members were deemed “interested directors” under the Companies Act, 2017, and therefore could not make a valid decision on the matter.

Consequently, the Board resolved to place the proposal before shareholders in a general meeting for approval, in compliance with applicable laws.

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