Karachi: Pakistan Hotels Developers Limited has issued a final notice to shareholders regarding unclaimed shares and dividends that are set to vest with the federal government if no claims are made within a specified timeframe. This notice pertains to shares issued and dividends declared that have remained unclaimed or unpaid for a period of three years.

The announcement, published in Business Recorder and Daily Ausaf, follows the provisions outlined in sub-section (2) of section 244 of the Companies Act, 2017. According to the notice, shareholders had previously been notified via registered post at their last known addresses, urging them to submit claims within three months.

Shareholders are now invited to lodge their claims within 90 days at the company's registered office or through the Share Registrar, F.D. Registrar Services (Pvt) Limited, located in Karachi. Failure to do so will result in the unclaimed or unpaid amounts being deposited with the federal government in accordance with the relevant legal provisions.

According to information available from the Pakistan Stock Exchange (PSX), this procedure is a standard regulatory measure intended to ensure compliance with the Companies Act, 2017. The notice emphasizes the importance of timely claims to prevent the forfeiture of shares and dividends to the government.

The affected shareholders are advised to visit the company's website for details of unclaimed shares and dividends, ensuring that their claims are lodged within the stipulated period to avoid any forfeiture.