Fatima Fertilizer Company Limited (PSX: FATIMA) has secured shareholder approval to renew a Rs5 billion Running Finance Facility for Reliance Commodities (Pvt) Limited, an associated company, for another year.
The special resolution, passed in accordance with Section 199 of the Companies Act, 2017 and the Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017, extends the short-term facility for a further 12 months. The arrangement is eligible for renewal on an annual basis in future general meetings.
The company has also authorised its CEO, COO, CFO, and/or Company Secretary—individually—to carry out all required steps for executing the facility, including negotiations and finalisation of agreements and related matters.
