Lahore: Agritech Limited has announced the receipt of notices from its preference shareholders for the conversion of a substantial number of preference shares into ordinary shares. The company disclosed this information on March 10, 2025, in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book of Pakistan Stock Exchange Limited (PSX).

According to the announcement, Agritech Limited initially issued 159,334,269 preference shares in 2012 to a select group of investors. As of now, 148,450,783 preference shares are outstanding. Notices received indicate that 148,432,675 of these preference shares will be converted into ordinary shares. The conversion is being executed under the terms of the Share Subscription Agreement dated February 13, 2012.

The breakdown of the preference shares to be converted is as follows: Fauji Fertilizer Company Limited with 77,998,586 shares, Maple Leaf Cement Factory Limited with 47,285,425 shares, Askari Bank Limited with 18,322,418 shares, JS Bank Limited with 4,823,746 shares, and individual investors holding 2,500 shares.

The conversion of these shares is a significant development for Agritech Limited and its shareholders. The company has advised the TRE Certificate Holders of the Exchange to take note of this change. This information is provided under the designated market category of the Pakistan Stock Exchange.

According to information available from the Pakistan Stock Exchange (PSX), this conversion aligns with the company's long-term financial strategy and reflects its ongoing commitment to fulfilling its obligations under the Share Subscription Agreement.

For further details, stakeholders are encouraged to contact Asma Irfan, the Company Secretary of Agritech Limited, at their Lahore office located at Askari Corporate Tower, 4th Floor, 75-76, Block-D, Main Boulevard, Gulberg-III.