Material Information of Al-Ghazi Tractors Limited

Material Information

Karachi, Al-Ghazi Tractors Limited informed Pakistan Stock Exchange that the Company was in violation of the provisions of Competitions Act, 2010 on the basis of which, the team of CCP had obtained the information and record of the Company.

As a responsible corporate entity, the Company has always ensured that it is complaint with all legislations. Therefore, the Company refutes any such allegations levelled against it by CCP and accordingly, it will defend itself fully against any action. The Company will continue to cooperate with CCP to this matter where required in order to prove its status of legal compliance.

Al-Ghazi Tractors Limited was incorporated in Pakistan as a Public Limited Company in June 1983 and is quoted on the Pakistan Stock Exchange. Al-Ghazi Tractors Limited is principally engaged in the manufacturing and production of agricultural tractors, implements and spare parts. The company is a subsidiary of Al-Futtaim Industries Company LLC, U.A.E

The Company has the main plant in Dera Ghazi Khan and started the production in February 1984.

The Company has quoted its shares on the Pakistan Stock Exchange, and the symbol “AGTL” is being used for the shares of the Company

The total number of shares the company has issued so far are 57,964,201. Earnings per Share has increased in 2020 and is 23.28 which was 16.87 in 2019. The Profit after Taxation in 2020 is 1,349,657,000 which was 977,652,000 in 2019.