Fatima Fertilizer's shareholders greenlight acquisition of 33.33% stake in NRL

MG News | December 12, 2023 at 04:00 PM GMT+05:00

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December 12, 2023 (MLN): The shareholders of Fatima Fertilizer Company Limited (PSX: FATIMA) have authorized the acquisition of up to 33.33% stake in National Resources (Private) Limited (NRL) from Reliance Commodities (Private) Limited for an aggregate price of up to Rs252.193 million, company’s filing on local bourse revealed today.

The company is further authorized to make additional investments in NRL over a two-year period, providing loans, advances, or subscribing to shares, with a maximum aggregate amount of Rs1 billion.

The purpose of these investments is to fund NRL's operations, including the exploration of natural resources in Balochistan.

The owners have also granted the Board of Directors (BoD) the authority to determine and modify these investments based on feasibility and is empowered to dispose of them as deemed fit.

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