Fatima Fertilizer approves Rs7.66bn equity investment in REITS
MG News | September 22, 2023 at 03:09 PM GMT+05:00
September 22, 2023 (MLN): The shareholders of Fatima Fertilizer Company Limited (PSX: FATIMA) in the annual general meeting (AGM) held on September 22, 2023, have resolved to invest a total of Rs7.66 billion in REITS managed by Arif Habib Dolmen REIT Management Limited, the latest company’s filing to the PSX showed today.
This is for a period up to the next annual general meeting or for a longer period (as applicable), and subject to the terms and conditions as mentioned in the Annexure-A of Statement under Section 134(3) of the Companies Act, 2017.
| Name of Associated Companies & Undertakings | Proposed Fresh Equity Investment (PKR Million) |
|---|---|
| Pakistan Corporate CBD REIT | 1,142 |
| Silk Islamic Development REIT (SIDR) | 150 |
| Sapphire Bay Islamic Development REIT (SBIDR) | 4,120 |
| REITS under management of Arif Habib Dolmen REIT Management Ltd. | 2,250 |
| Total | 7,662 |
Furthermore, it was resolved during the meeting to ratify equity investments made by FATIMA in various REITS, including Rs600 million in Silk Islamic Development REIT (SIDR), Rs858m in Pakistan Corporate CBD REIT, and Rs880m in Sapphire Bay Islamic Development REIT (SBIDR).
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