Islamabad: United Bank Limited (UBL) has announced that it will convene an Extraordinary General Meeting (EOGM) of its shareholders on August 24, 2026, at 3:00 p.m. The meeting is set to take place at the Islamabad Serena Hotel, where pivotal discussions and decisions are anticipated.

The primary agenda of the meeting will be to address ordinary business, including the confirmation of the minutes from the 67th Annual General Meeting held on March 26, 2026. The special business focus will be on UBL's proposed equity investment in Khushhali Microfinance Bank Limited (KMBL), a significant move pursuant to section 199 of the Companies Act, 2017.

According to information available from the Pakistan Stock Exchange (PSX), UBL's board has recommended an investment of up to PKR 22 billion in KMBL. This potential investment is set to occur through a rights issue, offering approximately 51.166 new ordinary shares for every existing share held. The subscription price is set at PKR 2 per share, substantially below the face value of PKR 10, representing a discount of PKR 8 per share.

In addition to subscribing to its entitlement, UBL plans to underwrite all unsubscribed shares under KMBL's rights issue at the discounted price. Furthermore, UBL may acquire additional shares through various negotiated transactions or arrangements, as will be determined by authorized bank personnel.

This strategic investment aims to increase UBL's aggregate shareholding in KMBL and enhance its market position in the microfinance sector. Shareholders are encouraged to attend the meeting to participate in the decision-making process regarding this substantial financial commitment.