The board of directors of the Fauji Foods Limited has recommended issuance of right shares at par value of Rs 10.00 per share in the proportion of 300 ordinary shares for each 100 ordinary shares held ie 300 percent. It was decided at the Company's board of directors meeting held on Thursday at Rawalpindi.

According to information sent to Pakistan Stock Exchange, non-voting ordinary shareholders will be likewise offered non-voting ordinary shares at par value of Rs 10.00 per share in the proportion of 300 non-voting ordinary shares for each 100 non-voting ordinary shares held ie 300 percent.

An extra-ordinary general meeting of the Company will be held on September 18, 2017 at Lahore primarily to approve adjustment in classes of the authorized capital structure of the Company to accommodate the aforesaid right issue.

Copyright Business Recorder, 2017