Karachi: The First Al-Noor Modaraba has announced its Annual Review Meeting, scheduled for Thursday, October 23, 2025, at 11:05 a.m. The event will take place at the company's registered office in Karachi, where stakeholders will review the performance of the Modaraba for the fiscal year ending June 30, 2025.
The company, in its official notification dated September 30, 2025, emphasized the importance of the meeting to all certificate holders. Roofi Abdul Razzak, the company secretary, communicated the notice on behalf of the board, reminding stakeholders of their administrative obligations.
In a request directed at individual certificate holders, the company reiterated the need for the submission of valid Computerized National Identity Cards (CNIC) to avoid the withholding of dividends. This reminder is in accordance with Section 243 (3) of the Companies Act, 2017. The regulation mandates the submission of valid identification to facilitate the seamless distribution of dividends.
First Al-Noor Modaraba also highlighted the requirement under Section 242 of the Companies Act, 2017, which stipulates that dividends must be paid through electronic means directly into the bank accounts designated by the certificate holders. To comply, stakeholders are urged to submit the "Electronic Credit Mandate Form" along with a copy of their CNIC or NTN.
According to information available from the Pakistan Stock Exchange (PSX), the Modaraba has set the book closure period from October 17 to October 29, 2025. During this interval, no share transfers will be accepted. Transfers received by the close of business on October 16, 2025, will be processed timely for eligibility to attend the Annual Review Meeting and entitlement considerations.
Additionally, the company has made provisions for a video conference facility, contingent on receiving consent from members holding an aggregate of 10% or more of the shareholding. This consent must be communicated at least seven days before the meeting date.
In compliance with Section 72 of the Companies Act, 2017, First Al-Noor Modaraba encourages the conversion of physical certificates to a book-entry form. This transition is aimed at modernizing and streamlining shareholding practices. Members with physical certificates are advised to complete the conversion through the Central Depository Company of Pakistan Limited.
The company has also addressed the issue of unclaimed dividends and undelivered share certificates, reaffirming its compliance with Section 244 of the Companies Act, 2017. Stakeholders with outstanding claims are encouraged to contact the company promptly to resolve such matters.