Karachi, BankIslami Pakistan Limited shareholders have been notified about the Public Announcement of Offer by JS Bank Limited to acquire 275,891,286 shares of the company. The offer is made under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. Next Capital Limited is the Manager to the Offer for this transaction.

As part of the process, BankIslami has closed its share transfer books from August 03, 2023, to August 09, 2023, both days inclusive, to determine the entitlement of shareholders to receive the Offer Letter from JS Bank.

Offer letters will be sent to shareholders whose names appear on the shareholders' list as of August 02, 2023. Shareholders will be able to accept the offer by tendering their shares during the Acceptance Period, which will begin on August 15, 2023, at 9:00 am and end on August 21, 2023, at 5:00 pm.

For the convenience of shareholders, the preferred method of payment against accepted shares will be electronic transfers to the International Bank Account Numbers (IBAN) registered with the existing share registrar of BankIslami (CDC Share Registrar Services Limited - CDCSRSL). Shareholders are strongly advised to update their IBAN numbers and CNIC/NTN with CDCSRSL. In case of any issues with electronic transfers, pay orders will be issued to shareholders within the timeline defined under the Regulations.

Shareholders holding physical shares are required to submit physical share certificates along with transfer deeds verified from CDCSRSL. Transfer deeds verified from any previous share registrar of BankIslami will not be acceptable. Physical shareholders intending to tender their shares are advised to obtain verification of their transfer deeds from CDCSRSL well before the Acceptance Period.