EngroEngro Corporation Limited generally famous by
name of EngroChemical Pakistan Limited. This is biggest Industrial Corporation in Pakistan which is
working in so many sectors of the economy.
History from esso to engro:•In 1957 a joint venture/ esso discover a gas field named Mari near Dharki•In 1964 the company was incorporate as a esso fertilizer public limited with 75% shares held by Esso and 25% by general public. •The construction of the plant was started in 1966 and its start operating in 1968.•By 1971 engro esso Pakistan Fertilizer Company was made exxco chemical Pakistan
•By 1971 engro esso Pakistan Fertilizer Company was made exxco chemical Pakistan
•Engro foods limited was shaped as a completely own subsidary of Engro corporation in 2005. •After a merger on January 1st 2010 engro chemical limited was renamed by Engro Corporation limited and was set up as holding company.
Subsidries of engro corporation:
Engro Fertilizers Limited They manufacture premier fertilizers for crops which focus on balanced crop nutrition and increased yield. like, engro urea, DAP, zorawar, zarkhez, and zingro.
Engro Foods LimitedThe company has establish a state of the art processing unit in Sukkhar and Sahiwal in addition to this an icecream making facility in Sahiwal. Top products under the head of dairy are presented like successfully like Olwell, Tarang, Owsum and Omore.
Engro Polymer & Chemicals LimitedEngro polymer and chemical limited a fully owned of engro corporation is a primary manufacturer and marketer of PVC (polyvinyl chloride) with yearly production of 150,000 tons. The company is advertising its products underneath brand name SABZ with the recent expansion the company has an integrated facility and is able to produce EDC CVM chlorine and caustic soda.
Engro PowergenEngro powergen was incorporated in 2008 as a wholly owned subsidiary of Engro corporation to develop power projects to lessen the shortage and earn a competitive returns from shareholders.
Elengy Terminal Pakistan LimitedElengy terminal Pakistan limited is fully own subsidiary of engro corporation, is new initiative aimed at open access merchant floating storage re-gasification terminal with the storage capacity of 3.5mptaunder the LNG policy 2011.
Engro vopak terminalIt is a joint venture of engro and Royal vopak of Netherlands, it is providing its services to the petrochemical industry of Pakistan. It is offering storage and handling solutions for liquids and gaseous chemical and storage for oil products. It is maintaining safety and
quality as per international standards ISO 9001 and others.
Engro RupiyaThe saving scheme ‘Rupiya certificate’ provides
investors 14.5% rate of return. This first Term Finance Certificate (TFC) by Engro Corp
offers profit payments twice in a year for an amount of 25000.
Name Clause: Engro Corporation Limited
Domicile Clause: Karachi; the province of Sindh
Manufacturing, deal in food products.Manufacturing agricultural itemsAdvertise the products.Establish research workshops.Develop farms.Invest the surplus amount.Construct buildings for benefit of Engro.Obtaining provisional ordersSupporting charitable organization.Raise capitals by debentures
Expand money in experimentingPartnership for benefit of Engro.Pay for any property rightsDistribute engro’s property among members.Pay expenses incurred in formation of Engro.To establish branches.To achieve objects as principals, agents.
To do best possible things for attaining objective
Liability Clause: Limited liability
Capital Clause: Authorized capital =5,500,000,000
Nationality Occupation No. ofodrinary shares
Asad Umar M. umar Pakistani Business 01 84/2, 23rd street, phase-6 DHA karachi
Pakistani Business 01 F-6 Dawood colony national stadium Karachi
Pakistani Business 01 124/1, 12th street phase-6 DHA karachi
PRESENT OFFER FOR SALE
The present offer for sale of 27,000,000 ordinary shares of the face value of PKR 10/- each is being made to the general public.
The shares allotted to sponsor in excess of twenty five percent (25% )of the ordinary shares shall not be saleable for a period of six months from the date of public subscription.
Employees Share Option Scheme
The shareholders of the company in AGM has approved as “EMPLOYEES SHARE OPTION SCHEME” for granting up to 21 million ordinary shares. However, the maximum number of
shares shouldn’t exceeds 21 million.
• Pakistani citizens resident IN or OUTSIDE Pakistan or persons holding two nationalities including Pakistani
nationality are eligible investors for public offer.
• Non resident Pakistani investors and foreign investors may subscribe for shares by using their special convertible rupee account.
•More than one application by same person is prohibited.
OVER SUBSCRIPTION• If the offer is over subscribed, application for 500 shares will be considered first and application for 1000 shares will be considered next and then 1500 and so on•The company will decide within 10 days whether the application will be accepted or rejected and will refund the money incase of unsuccessful applications•If the company doesn’t repay within the specified time then offerer will be liable to repay with charge at the rate of 1.5% and fine not exceeding 5000.•The company will dispatch the share certificate to successful applicants within 30 days of the close of public subscription.
TRANSFER OF SHARES
The company shall not refuse to transfer any share unless some defect or invalidity is involved.
•The company in general meetings will declare dividends but the amount will not exceed the amount recommended by
•Unpaid dividend shall not bear any interest against the company.
INCOME DISTRIBUTION•Income distribution will be subject to deduction of Zakat according
to the provisions of Zakat and usher ordinance.
• Under section 150 of income tax ordinance, the dividend distribution to the shareholders will be subject to withholding tax at
the rate of 10%
INTEREST OF SHAREHOLDER
The interest of shareholders will only remain to the extent of shares held by them and not in the
company property and profit.
Board Of Directors
Hussain Dawood – ChairmanM. Aliuddin Ansari – CEO
• Samad Dawood• Afnan Ahsan• Khalid Subhani• Khawaja Iqbal
• Ruhail Mohammad• Sarfaraz Ahmed• Shahid Hamid• Shahzada Dawood
Remuneration for holding office, attending board meetings and performing extra services, will be determined by the Board of directors.
Offices are not entitled to any extra benefits other than their usual remuneration.
None of the directors will be interested in property acquired by the company
Interest of the Directors
PowersDirectors will pay all the expenses incurred since
incorporation. They’ll exercise all the power to borrow money for the company, declare the dividends and bonuses for the employees and approve annual accounts.
Directors, officers or any other person employed as auditor will be indemnified out of the company funds against civil and criminal liability.
The Directors have setup an effective internal audit function consisting of qualified persons
Copies of memorandum, appraisal reports, copies of contracts and agreements are regularly inspected
Engro Corp has conducted forty six
Annual General Meetings. Last AGM been held on March 30, 2012
To increase company’s authorized capital from 4,500,000,000 to 5,500,000,000
To lend loan to two subsidiaries
Ordinary ResolutionFor issuance of bonus shares in the ratio of
three shares per share held
Engro’s recent Board Meeting was held on October 30, 2012
Engro Foods has called seven Extra Ordinary General Meetings so far. Last one been called on November 28, 2012.
Bankers of the companyFaysal Bank LimitedHabib Bank Limited
MCB LimitedUnited Bank Limited
Bank Al-Habib LimitedAskari Bank Limited
Bank of KhyberBank Al-Fallah
Standard Chartered BankCiti Bank