Karachi: Fauji Foods Limited has announced a significant adjustment in its financial arrangements, according to a recent board of directors' meeting held on July 22, 2024. The company, part of the esteemed Fauji Foundation, has converted Rs. 2,350,000,000 from "Share Deposit Money" to "FF Loan."

The decision was made during the board meeting, which occurred on the same day. The reclassification is in alignment with the terms of an existing loan agreement dated August 22, 2022. According to information available from the Pakistan Stock Exchange (PSX), this move adheres to the regulatory frameworks established under Section 96 of the Securities Act, 2015, combined with the Rule Book of the Pakistan Stock Exchange Limited.

This strategic financial maneuver is part of a series of corporate governance actions undertaken by Fauji Foods to ensure compliance with the Securities and Exchange Commission of Pakistan. Despite the significant financial restructuring, the terms and conditions stipulated in the initial loan agreement will remain unchanged.

The disclosure aligns with Section 96 of the Securities Act, 2015, demonstrating Fauji Foods' commitment to transparency and adherence to legal and regulatory obligations. There were no disclosures related to delays in the release of inside information, nor were there any transactions reported by managerial staff or their close associates.