KARACHI: Agritech Ltd (AGL) has merged with Hazara Phosphate Fertilizers (Pvt) Ltd (HPFL) together with all the property, assets, rights, liabilities and obligations of every description of the HPFL by and into the company on the basis of the Scheme of Amalgamation.
The board of directors (BoD) of the company met on Saturday where they have declared the merger. Furthermore, they have also declared right issue of preference shares to the ordinary shareholders.
The company has issued 40.60 right preference shares for every 100 ordinary shares at a price of Rs 10 per share held by the ordinary shareholders that is 40.60 percent right.
Agritech, formerly known as Pak-American Fertilizer Limited, was incorporated in 1959 as a subsidiary of National Fertilizer Corporation. The company was listed at the KSE, March 11-13, 2010.
However, Hazara Phosphate Fertilizers (Pvt.) Limited manufactures fertilizers. It offers granular single super phosphate and sulphuric acid. The company was founded in 1985 and is based in Islamabad, Pakistan.
No comments:
Post a Comment