Karachi: We refer to your letter dated June 14, 2011 through which you have highlighted that as per news published in a newspaper on June 11, 2011, Fatima Fertilizer Company Limited (FATIMA) will begin Commercial Production from July 1, 2011.
In the context of clause 35 (xxiii) of the Code of Corporate Governance of the Karachi Stock Exchange, you have mentioned that it was required to disseminate this information to the Securities and Exchange Commission of Pakistan and all the Stock Exchanges on which shares of the company are listed.
In this regard, we would like to advise you that as mentioned in our quarterly accounts ended as of March 31st 2011 that we are having a satisfactorily trial production of AMMONIA, UREA and CAN plants and NP plant will commence its trial production in the second quarter of 2011. Presently AMMONIA, UREA and CAN plants are running smoothly and the trial production of NP has commenced. Management is endeavoring its level best to stabilize the trial production NP as well. As soon as it is achieved commercial production date shall be determined.
We are aware of the requirements of the Code of Corporate Governance and assure you of our complete compliance of the regulations by informing the stock exchanges and SECP immediately upon determination of date of commercial operation.
For more information, contact:
Muhammad Abdul Wahab
Chief Financial Officer
Fatima Fertilizer Company Limited
PABX: +9242 111-fatima (111-328-462)
Fax: +9242 36621389