The MAPLE Leaf Center Factory Limited (MLCFL) has successfully transformed its preferences to 55,571,094 ordinary arrows at Agritech Limited (AGL), as part of a big step to enhance its share in the company.
“AGRITECH LIMITED (AGL) has released 55,571,094 ordinary shares of 10 rupees/- each of them to Maple Leaf Center Factory Limited (” The company “) against transferring the preference shares that the company keeps in AGL”, read a notice sent to the Pakistan Stock Exchange (PSX) on Friday.
After this conversion, MAPLE LEAF 201,663,428 shares have regular shares, representing 33.66 % of AGL’s total capital.
On January 8, 2025, MLCFL succeeded in fulfilling its obligations under the general offer to obtain a total of 1,484,912 out of 160,762,209 ordinary shares in Agritech Limited. The next capital was the director of the offer for this deal.
On January 24, the Agritech Council approved the transfer of more than 9.3 million shares to Fauji Fertilizer and MAPLE LeAf Center Factory.
AGRITECH agreed to acquire 7,847,930 ordinary shares by Fauji Fertilizer at 39.05 per PKR share, with a total of about 306 million PKR, while 1,484,912 shares were transferred to maple leave cement at 39 PKR, at a value of more than PKR 57 million.
Converting preference to normal shares is part of the MAPLE Leaf Center strategy to unify its location in AGL, which works in a decisive sector. The increase in the MAPLE LEAF contract is expected to enhance its effect on AGL and strategic decisions to move forward.
