Fauji Foods approves Rs350m loan to subsidiary for capital needs

MG News | July 22, 2024 at 02:54 PM GMT+05:00

0:00

July 22, 2024 (MLN): The Board of Directors of Fauji Foods Limited (PSX: FFL) have approved the grant of a loan of Rs350 million to its wholly owned subsidiary Fauji Infraavest Foods Limited to meet its working capital requirements, the company's filing on PSX revealed today.

This is subject to the transfer of shares to FFL to enable it to meet certain capital expenditures.

The mark-up on the principal loan amount will be payable on the outstanding loan amount bi-annually at 6 months KIBOR plus 1%.

The board further agreed to reclassify "Share Deposit Money" of Rs2.35 billion into "FF Loan" as per the loan agreement dated August 22, 2022.

The company is principally engaged in the processing and sale of toned milk, milk powder, fruit juices, allied dairy and food products.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	163,806.22 500.44M	-0.39% -638.50
ALLSHR	99,845.79 1,977.49M	-0.42% -417.42
KSE30	50,123.85 153.24M	-0.68% -343.31
KMI30	238,530.50 71.49M	-0.36% -850.63
KMIALLSHR	65,898.10 543.80M	-0.37% -245.35
BKTi	46,380.96 92.15M	-0.49% -229.01
OGTi	31,857.40 12.33M	-1.20% -387.93

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,220.00	109,470.00 103,745.00	-1225.00 -1.13%
BRENT CRUDE	61.34	61.47 60.14	0.28 0.46%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	93.20	93.50 93.20	0.05 0.05%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	57.25	57.32 56.15	0.26 0.46%
SUGAR #11 WORLD	15.53	15.88 15.45	-0.27 -1.71%