Karachi August 23 2024: Fatima Fertilizer Limited, decided to acquire ordinary shares, convertible preference shares, non convertible preference shares, TFCs and Sukuks of Agritech Limited.
Share price of the company surge 298 percent in a one-year period time according to data available at Pakistan Stock Exchange.
“We are pleased to announce that Fatima Fertilizer Company Limited (the “Company”) has decided to attempt to acquire ordinary shares, convertible preference shares, non-convertible preference shares and other instruments (including zero coupon term finance certificates and zero coupon sukuks) and debt of Agritech Limited, provided that the Company shall at present remain within the limits placed by section 111 of the Securities Act 2015” states Fatima Fertilizer in its filing to the Pakistan Stock Exchange.
Fatima fertilizer currently holds 32.9 million shares of Agri Tech Limited, which translates into overall holding of 8.3 percent.
“It is noted that the board may later on pass a separate board resolution for authorizing the acquisition of up to majority voting shares, reaching beyond the limits of section 111 of the Securities Act 2015” the information added.
