Karachi: Notice has been issued regarding the upcoming principal and profit payment for Sukuk Certificates - III by Mughal Iron and Steel Industries Limited. According to the notification sent to the Pakistan Stock Exchange (PSX), the relevant payments are scheduled for October 18, 2024. The transfer books for the Sukuk will be closed from October 12, 2024, until October 18, 2024, to establish the entitlements for the payments.

In preparation for this payment, the Central Depository System (CDS) transaction IDs must be submitted in the proper order to the share registrar, M/s. Digital Custodian Company Limited, by the close of business on October 11, 2024. This submission deadline ensures that Sukuk holders are eligible for their principal and profit distributions. Additionally, Sukuk holders are required to update their correct international bank account numbers (IBAN) by the same date to facilitate the upcoming payment.

According to information available from the Pakistan Stock Exchange (PSX), income tax will be deducted from the profit payments under section 151 of the Income Tax Ordinance, 2001. Sukuk holders who are eligible for income tax exemptions are advised to submit their valid income tax exemption certificates to M/s. Digital Custodian Company Limited by October 11, 2024.

The notification also highlights the need for Sukuk holders to ensure that all their documentation and bank details are correct and submitted by the designated deadlines to avoid any delays in receiving their payments.