FATIMA announces plan to acquire stake in Agritech Limited

By MG News | August 23, 2024 at 11:52 AM GMT+05:00

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August 23, 2024 (MLN): Fatima Fertilizer Company Limited (PSX: FATIMA) has announced its intention to acquire a stake in Agritech Limited (PSX: AGL), according to a notice issued to the PSX today.

FATIMA plans to invest in convertible preference shares, non-convertible preference shares, and other instruments, including zero coupon term finance certificates and zero coupon sukuks, as well as the debt of AGL.

This investment will be made within the limits set by Section 111 of the Securities Act 2015.

It is noted that the board may later pass a separate resolution to authorize the acquisition of up to a majority of voting shares, potentially exceeding the limits established by Section 111 of the Securities Act 2015.

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