FFBL calls emergency board meeting to discuss strategic matter

August 07, 2024 (MLN): The Board of Directors of Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) has called for an emergency board meeting to consider matters other than financial results.

According to the notice issued by the company on the PSX today, the meeting will be held on Friday, August 9, 2024, at 14:00 hours at its registered office (FFBL Tower, Jinnah Boulevard, DHA-II, Islamabad).

Subsequently, FFBL has declared a "Closed Period" from August 7 to 9, 2024, and assured that any material information will be communicated to the exchange.

Recently, the board of directors of Fauji Fertilizer Company Limited (PSX: FFC) granted an in-principle approval to evaluate the potential amalgamation of FFBL with and into FFC by way of a scheme of arrangement.

Therefore, there is a high possibility that the Board of FFBL is meeting to discuss and approve matters related to the aforementioned agreement.

According to Mettis Global calculations of the swap ratio based on the book values of the two entities, FFBL shareholders may get 0.32 shares of Fauji Fertilizer Company Limited (PSX: FFC) for every 1 share held in FFBL.

However, the actual exchange ratio will be determined by the valuation conducted by the appointed advisory firm.

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