Lahore: Agritech Limited’s Board of Directors has approved the transfer of ordinary shares to Fauji Fertilizer Company Limited and Maple Leaf Cement Factory Limited, marking a significant move under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. This decision was announced during a board meeting held on January 24, 2025.

The board approved the acquisition of 7.85 million ordinary shares by Fauji Fertilizer Company Limited at a price of PKR 39.05 per share, amounting to a total transaction value of approximately PKR 306.41 million. Additionally, Maple Leaf Cement Factory Limited has acquired 1.48 million ordinary shares at a price of PKR 39 per share, resulting in a transaction value of approximately PKR 57.89 million.

According to information available from the Pakistan Stock Exchange (PSX), these transactions were conducted under the regulatory framework provided by the Securities Act, 2015, and Clause 5.6.1. of the Rule Book of the PSX. The move highlights Agritech Limited's compliance with the substantial acquisition and takeover regulations, ensuring transparency and adherence to legal requirements in the market.

The designated market category for this transaction is the substantial acquisition of voting shares and takeovers, as outlined by the PSX regulations. Agritech Limited’s Company Secretary, Asma Irfan, has been instrumental in facilitating communication regarding this development. The company's contact information is provided for any further inquiries related to this transaction.

This strategic decision aligns with Agritech Limited's objectives to enhance shareholder value and streamline its corporate structure through partnerships with prominent industry players like Fauji Fertilizer and Maple Leaf Cement, aiming for sustained growth and market presence.