LHC delays effective date for Sheikhupura Plant Transfer to FATIMA Until 2024

MG News | April 12, 2023 at 01:16 PM GMT+05:00

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April 12, 2023 (MLN): The Lahore High Court (LHC) has approved a change in the effective date of the Scheme of Arrangement to transfer operations related to the Sheikhupura plant to Fatimafert Limited (PSX: FATIMA), according to a recent announcement.

The initial effective date was set for January 01, 2022, but has now been deferred to January 01, 2024.

This decision followed an earlier announcement made on April 03, 2023, by the company, in which it stated that it was deferring the implementation of the Scheme due to unforeseen circumstances.

The company has not yet provided any further details regarding the reasons for the deferment of the Scheme, or any potential impact it may have on the company's operations or financial performance.

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