FATIMA approves Rs5bn finance facility renewal for associated company

MG News | April 21, 2025 at 10:43 AM GMT+05:00

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April 21, 2025 (MLN): The Shareholders of Fatima Fertilizer Company Limited (PSX: FATIMA) approved the renewal of a Rs5 billion Running Finance Facility for Reliance Commodities (Pvt) Limited, an associated company.

The special resolution, passed under Section 199 of the Companies Act, 2017, along with the Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017, extends the facility for a further period of one year.

Structured as a short-term Running Finance Facility, the limit may be renewed in subsequent general meetings on an annual basis.

In addition, the company's Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, and/or Company Secretary have been authorised singly to take all necessary steps, including negotiations, execution of relevant agreements, and handling of all ancillary matters related to the facility.

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