Karachi: Arif Habib Corporation Limited has announced a sub-division of its shares, which is contingent upon the approval of a special resolution in the forthcoming Extra-Ordinary General Meeting scheduled for March 19, 2025. The corporation plans to adjust the face value of each of its ordinary shares from ten rupees (Rs. 10/-) to one rupee (Re. 1/-). This adjustment will result in each existing share being subdivided into ten ordinary shares of one rupee each. The rights and privileges associated with the shares will remain unchanged.
The corporation has designated Wednesday, March 26, 2025, as the date for closing its share transfer books to determine the entitlement for the issuance of the subdivided shares. Transfers received at the office of their registrar, M/s. CDC Share Registrar Services Limited, located at CDC House, 99-B, Block-B, S.M.C.H.S, Main Shahrah-e-Faisal, Karachi, by the close of business on Tuesday, March 25, 2025, will be considered timely for the entitlement determination.
As a result of this sub-division, trading in the company's shares will be suspended by the Pakistan Stock Exchange (PSX). Trading is expected to resume on March 27, 2025, upon the completion of all requisite formalities and compliance procedures. According to information available from the Pakistan Stock Exchange (PSX), this suspension is to ensure that all processes related to the sub-division are correctly implemented.
The company has arranged for the notice of book closure to be published in the English-language newspaper 'The Nation' and the Urdu-language newspaper 'Nawa-e-Waqf' on March 19, 2025. This step is part of the corporation's effort to keep shareholders and the market informed of the developments.
Stakeholders and certificate holders of the exchange have been advised to take note of these changes and the temporary suspension of trading. The designated market category for Arif Habib Corporation Limited remains under the supervision of the Securities Market Division of the Securities and Exchange Commission of Pakistan.