Fatima Fertilizer to procure Agritech instruments
Fatima Fertilizer Company Limited has announced its intention to acquire
various financial instruments of Agritech Limited currently held by banks and
other financial institutions. These instruments include ordinary shares,
convertible preference shares, non-convertible preference shares, zero coupon
bonds, and sukuks.
The company disclosed this move through a notice to the Pakistan Stock
Exchange (PSX), in compliance with Sections 96 and 131 of the Securities Act,
2015, and Clause 5.6.1 of the PSX Rule Book.
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In the notice, Fatima Fertilizer stated, “We are pleased to announce that
Fatima Fertilizer Company Limited (the 'Company') will attempt to procure
various instruments of Agritech Limited ('Agritech'), including Ordinary
Shares, Convertible Preference Shares, Non-Convertible Preference Shares, and
Zero Coupon Bonds/Sukuks, from banking and financial institutional investors.”
The notice further indicated, “We will provide updates on any significant
developments and make additional announcements as required under PSX
regulations.”
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Fatima Fertilizer is involved in the manufacturing, production, buying,
selling, importing, and exporting of fertilizers and chemicals, while Agritech
Limited focuses on the production and sale of Urea and Granulated Single Super
Phosphate fertilizer.