Rawalpindi: Fauji Fertilizer Bin Qasim Limited (FFBL) announced the approval of its merger with Fauji Fertilizer Company Limited (FFCL) following a judgment by the Lahore High Court, Rawalpindi Bench, on December 4, 2024. The court sanctioned the Scheme of Arrangement for the amalgamation, which had been proposed on September 26, 2024.

The merger arrangement stipulates that FFCL will issue 150,870,449 ordinary shares to the shareholders of FFBL, excluding FFCL and its nominees. This share issuance will be based on a swap ratio of one FFCL share for every 4.29 FFBL shares held, with each share having a face value of PKR 10.

According to information available from the Pakistan Stock Exchange (PSX), the record date for determining the entitlements of FFBL shareholders will be set by FFBL's directors. The company has committed to keeping shareholders informed about significant developments as they arise.

Relevant documents, including a copy of the judgment, have been made available on the Lahore High Court's website. The PSX members and TRE certificate holders have been notified of the court's decision and the merger details.