Karachi: United Bank Limited (UBL) has notified stakeholders of the upcoming book closure dates for the 23rd quarterly coupon payment on its Additional Tier 1 Term Finance Certificates (TFCs). This coupon payment is due on October 29, 2024.

According to a formal notice issued on October 4, 2024, the Chief Financial Officer of UBL, Syed Manzoor Hussain Zaidi, informed the General Manager of the Pakistan Stock Exchange Limited that the bank's TFC transfer books would remain closed from October 21 to October 28, 2024. This period will allow for the proper determination of entitlements for the coupon payments.

Transfers related to these securities will be handled by THK Associates (Pvt.) Limited, the appointed registrar and transfer agent. These transactions must be completed by October 18, 2024, to ensure all entitled TFC holders receive their payments promptly. According to information available from the Pakistan Stock Exchange (PSX), the payments will be processed via electronic bank transfers or pay orders on the next working day following the book closure period.

This structured approach ensures compliance with financial regulations and facilitates accurate distribution of payments to investors. UBL’s adherence to scheduled book closures plays a critical role in maintaining transparency and accountability in financial transactions concerning its securities.