OCI's Second Issuance Sanctions via Form 12b-25
NEDERLAND, TX: OCI Partners LP has recently announced that it has filed a Form 12b-25 with the U.S. Securities and Exchange Commission because the company was unable to file its all annual report on Form 10-K within the mentioned deadline, December 31, 2015. The new Form is an extension phase of Form 10-K where OCI are allowed to take additional 15 days for arranging its Annual Report on Form 10-K and the new clauses is granted by Rule 12b-25 under the Securities Exchange Act of 1934.
OCI Partners best known producing nitrogen fertilizers, methanol and other natural gas based chemical products and is also recognized as a global supplier of the produced products to its agricultural and industrial customers. The partnership ranks well among the world's largest nitrogen fertilizer producers, and can produce nearly 7.7 million metric tons of nitrogen fertilizers and industrial chemicals. Currently it has a maximum methanol production with the design capacity of 912,500 metric tons per year whereas its ammonia production has the design capacity of 331,055 metric tons per year.
The company is putting more efforts on a Credit Facility Amendment which is very necessary for filing up its all Annual Report on Form 10-K within the deadline. OCI’s any negative impressions on submitting its Annual Report within the time will lead them to be scrutinized on the fact that whether their existing sources of cash would be enough to meet its liquidity requirements within one year or not. The previous issuance to file up the company’s all financial statement on December 31, 2015 already addressed its uncertainties of its ability to continue as a growing concern. The company’s successful steps in meeting the predicted time to negotiate and consummate a Credit Facility Amendment will be an ultimate answer about its ability to continue.