Fatima Fertilizer Decides to Acquire Shares, Financial Instruments of Agritech Limited

Fatima Fertilizer Company Limited (PSX: FATIMA) has decided to attempt to acquire ordinary shares, convertible preference shares, non-convertible preference shares, and other instruments (including zero coupon term finance certificates and zero coupon sukuks) and debt of Agritech Limited, provided that the Company shall at present remain within the limits placed by section 111 of the Securities Act 2015. “It is noted that the board may later on pass a separate board resolution for authorizing the acquisition of up to majority voting shares, reaching beyond the limits of section 111 of the Securities Act 2015,” the stock filing stated. The principal activity of the Company is manufacturing, producing, buying, selling, importing, and exporting fertilizers and chemicals. FATIMA’s scrip at the bourse closed at Rs. 51.74 with 341,773 shares on Friday.