Lahore: Agritech Limited, a prominent entity in the designated market category, has disclosed the issuance of Term Finance Certificates (TFCs) valued at a substantial PKR 5.07 billion to its creditors. This move is part of a Scheme of Arrangement sanctioned by the Lahore High Court on June 3, 2022, aimed at restructuring the company’s obligations.

According to information available from the Pakistan Stock Exchange (PSX), Agritech Limited has distributed 1,013,345 TFCs in book-entry form. This financial maneuver is executed under the provisions of Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.

The company previously announced the sanctioning of this arrangement on July 6, 2022, and reaffirmed its commitment during a board meeting on February 13, 2024. Brig Tamour Daud Khan, the Company Secretary of Agritech Limited, provided this information from the company's headquarters located in Lahore.

Agritech's strategic issuance of these certificates represents a significant financial event, reflecting its ongoing efforts to manage its fiscal responsibilities effectively.