Fatima Fertilizer to Buy 33.3% Stake in National Resources (Pvt) Ltd

Fatima Fertilizer Company Limited (PSX: FATIMA) has decided to acquire up to 34.8 million ordinary shares in its associated company National Resources (Private) Limited (NRL), having a face value of Rs. 10/- each, constituting approximately up to 33.33 percent of the issued and paid up share capital for an aggregate price of up to Rs. 252.2 million. FATIMA has also decided to make further investments in NRL from time to time over 2 years, by way of providing loans/advances to the company and/or subscribing to shares in the aggregate amount of up to Rs. 1 billion for funding the operations/business of the company, including direct or indirect exploration of natural resources in the areas allotted in Balochistan to NRL or a project company in which NRL is a shareholder. “Such investment(s), whether by way of equity injection (including the acquisition or subscription of shares) and/or loans and advances, may be made and/or retained by the Company as the Board of Directors deem appropriate and/or modify the same from time to time in accordance with the instructions of the Board of Directors, including based on the feasibility of the arrangement, as a consequence of which the Board of Directors of the Company is also hereby empowered and authorized to dispose of such investment(s) or any portion thereof as deemed fit by the Board,” the company said in its Resolutions passed at the Extraordinary General Meeting. The principal activity of the FATIMA is manufacturing, producing, buying, selling, importing, and exporting fertilizers and chemicals.