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Thursday, February 15, 2024

FFC assures commitment to shareholders in extraordinary general meeting

Chairman, Mr. Waqar Ahmed Malik, and Managing Director and Chief Executive Officer FFC, Mr. Sarfaraz Ahmed Rehman assured FFC’s commitment to providing sustained earnings to the valued shareholders despite challenging circumstances.

Fauji Fertilizer Company (FFC) held Extraordinary General Meeting on November 05th, 2021 while establishing a quorum of 56.81 percent with representation through video conferencing and proxies from individual shareholders as well as from all major equity holders which included Fauji Foundation, State Life Insurance Limited, Citi Bank, Deutsche Bank, Atlas and representatives from various other Corporate bodies and institutions.

Brig Asrat Mahmood, SI(M) (Retd), Company Secretary FFC, opened the house. He apprised the shareholders of the special business to seek shareholders’ approval notwithstanding the special resolution passed by the shareholders of the Company in the EGM held on July 27, 2021.

The approval is accorded in terms of Section 199 of the Companies Act, 2017 to assign its rights, benefits, and interests in respect of any investment made in the Foundation Wind Energy-I Limited and Foundation Wind Energy-II Limited by way of a subordinated loan. The shareholders unanimously approved the proposed resolution.

Read more: Fauji Fertilizer makes a strong comeback in the second quarter of 2019

Chairman, Mr. Waqar Ahmed Malik, and Managing Director and Chief Executive Officer FFC, Mr. Sarfaraz Ahmed Rehman graced the occasion and responded to various queries from shareholders and assured FFC’s commitment to achieve higher standards of performance and to provide sustained earnings to the valued shareholders despite the challenging circumstances.

FFC wins Best Corporate Excellence Award for 7th consecutive year

Recently, FFC won the best Corporate Excellence Award in Fertilizer Sector for the seventh consecutive year as adjudged by the Management Association of Pakistan (MAP). Brig Asrat Mahmood (Retd), the Company Secretary, and Syed Imran Rizvi, Head of Shares, received the award.

The award is an acknowledgment of Best Management Practices, distinguished Corporate Governance, Industrial Laurels, and Shareholders’ Value that FFC has been maintaining since its inception.

Read more: FFC becomes largest taxpayer in manufacturing sector

On numerous occasions, FFC has won awards for its remarkable performance. Back in 2019, the company won the highest category prestigious award ‘Best Company of The Year’ by Rawalpindi Chamber of Commerce and Industry (RCCI) at 32nd RCCI International Achievement Awards held at Kuala Lumpur, Malaysia.