Karachi: Tariq Corporation Limited has completed a significant financial restructuring by converting its preference shares into ordinary shares, resulting in a change in its paid-up capital. The transformation involved the cancellation of 14,445,000 preference shares, each valued at Rs. 10, and the subsequent issuance of 7,222,500 ordinary shares at the same value. This conversion is in accordance with the terms outlined in the company's Articles of Association and related regulatory frameworks.

According to the auditor's certificate dated October 20, 2026, the company's management is tasked with ensuring compliance with the Companies Act, 2017, and other relevant legal frameworks. The auditors confirmed that all procedures, including reviewing statutory records and recalculating the number of shares, were followed to validate the conversion process.

The company's paid-up capital before the conversion was 82 million securities, valued at Rs. 820.00 million. Following the conversion, the paid-up capital increased to 89.22 million securities, totaling Rs. 892.23 million. This adjustment reflects the issuance of 7,222,500 new ordinary shares as a result of the cancellation and conversion of the preference shares.

According to information available from the Pakistan Stock Exchange (PSX), the conversion of securities is aligned with the company's governing documents, and all necessary formalities and recordings with the Central Depository Company (CDC) have been duly completed. The restructured capital marks a significant shift in the company's financial landscape, reflecting changes in both the structure and the volume of its issued securities.