Fatima Fertilizer : Financial Results for the Year Ended December 31, 2022
April 03, 2023 at 04:29 am EDT
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April 3, 2022
FATIMA/PSX/23/A-008
The General Manager
Executive Director/HOD,
Pakistan Stock Exchange Limited
Offsite-II Department,
Stock Exchange Building
Supervision Division,
Stock Exchange Road
SECP, Blue Area
Karachi.
Islamabad.
Sub: Financial Results for the Year Ended December 31, 2022
Dear Sir,
We have to inform you that the Board of Directors of our Company in its meeting held electronically on April 3, 2023 at 11:00 am, recommended the following:
Cash Dividend
A final Cash Dividend for the year ended December 31, 2022 at Rs. 3.50 per share i.e. 35%. This
is in addition to interim Dividend already paid at Rs. Nil per share i.e. Nil %.
ii.
Bonus Shares
NIL
iii.
Right Shares
NIL
iv.
Any other entitlement / Corporate action
NIL
Any other price sensitive information:
"The Scheme of Arrangement ("the Scheme") to transfer the operations related to Sheikhupura plant to Fatimafert Limited ("the Subsidiary Company") was approved by the Board of both Companies on July 15, 2021. Lahore High Court ("the Court") granted approval of the Scheme on December 01, 2022 with effect from January 01, 2022. On December 30, 2022, the Board of the Company and the Subsidiary Company have agreed to defer the effective date of implementation of the Scheme from January 01, 2022 to January 01, 2024 or such suitable date, earlier or later, as may be decided by the Board of the Company and the Subsidiary Company due to prevailing economic situation in the country. Subsequent to the year end, the Company has approached the Court in this regard. Therefore, these financial statements have been prepared including the results of Sheikhupura plant."
The Financial Results of the Company for the Year Ended December 31, 2022 are attached.
The Annual General Meeting of the Company will be held both physically and through electronic means on Friday, April 28, 2023 at 11:00 a.m.
The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on April 19, 2022.
The Share Transfer Books of the Company will be closed from April 20, 2023 to April 28, 2023 (both days inclusive). Transfers received at the office of our Shares Registrar, CDC Share Registrar Services Limited, CDC House, 99 - B, Block 'B', S.M.C.H.S., Main Shahra-e-Faisal,Karachi-74400, at the close of business on April 19, 2022 will be treated in time for the purpose of above entitlement to the transferees.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding of Annual General Meeting.
Yours Sincerely,
Anil Zia
Deputy Company Secretary
Encl: as above
Plant Site: Mukhtar Garh, Sadiqabad,
District Rahim Var Khan, Pakistan. PABX: +92 68 5786960, Fax: +92 68 5786909
Head Office: E-110,Khayaban-e-Jinnah, Lahore Cantt.,
Fatima Fertilizer Company Ltd. published this content on 03 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 April 2023 08:28:04 UTC.
Fatima Fertilizer Company Limited is a Pakistan-based fertilizer manufacturing company. The Company is engaged in manufacturing, producing, buying, selling, importing, and exporting fertilizers and chemicals, such as nitrogen, phosphate and potash fertilizers. It produces a range of fertilizers, including Sarsabz Calcium Ammonium Nitrate (CAN), Sarsabz Nitro Phosphate (NP), Nitrogen Phosphorous Potassium (NPK) and Sarsabz Urea. Its CAN is a granulated nitrogenous fertilizer. Sarsabz Urea can be applied in various forms, and it can be spread in bulk alone or can also be mixed with other fertilizers before application. Its NP can be applied on various types of soils. The Company has a production base for nitric acid, which has production capacity of over 500,000 million tons per annum (MTPA). The Company manufactures approximately 500,000 MTPA of urea; approximately 420,000 MTPA of CAN; over 360,000 MTPA of NP, and approximately 500,000 MTPA of Ammonia.