Karachi: Arif Habib Corporation Limited (AHCL) has disclosed that shares have been credited to the accounts of its Chief Executive Officer, Arif Habib, and Chief Financial Officer, Mohsin Madni, following the sanction of a Scheme of Arrangement with its subsidiary, Arif Habib Limited (AHL). This development, dated November 18, 2024, aligns with compliance measures under Clause 5.6.4 of the Pakistan Stock Exchange Rule Book.

According to the disclosure, Mr. Arif Habib received 76,871 shares, while Mr. Mohsin Madni was credited with 477 shares. The credits were issued based on a swap ratio, recognizing them as entitled shareholders of AHL as of October 31, 2024. According to information available from the Pakistan Stock Exchange (PSX), the shares were credited through the Central Depository Company (CDC) as part of a merger-in nature transaction.

Post-credit, Mr. Arif Habib's shareholding in AHCL stands at 332,185,338 ordinary shares, equating to 78.77% of the company's updated capital. In contrast, Mr. Mohsin Madni holds 477 ordinary shares, representing a 0.0001% stake. The company confirmed that these transactions will be presented at the upcoming board meeting for consideration, as mandated by the PSX regulations.

These disclosures are intended for record-keeping and to maintain transparency with the Exchange, in compliance with the stipulated regulations.