FATIMA to transfer its Sheikhupura Plant operation to Fatimafert
MG News | December 15, 2022 at 12:40 PM GMT+05:00
December 15, 2022 (MLN): Fatima Fertilizer Company Limited (FATIMA) will transfer its Sheikhupura plant-related operations to its wholly-owned subsidiary company Fatimafert Limited (Fatimafert).
“Honorable Lahore High Court exercising company jurisdiction under the Companies Act, 2017 on 01.12.2022, in open court has announced the sanction/approval of the Scheme inter se Fatima and Fatimafert with effect from January 1, 2022.” the notification sent to PSX read.
To note, a joint petition was instituted by both companies before the Honorable Lahore High Court seeking therein, the sanction of the scheme of compromises, reconstruction, and arrangements.
At the time of writing, the scrip of the company is being traded at Rs34, which is down by 76 paisa or 2.19% DoD.
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