Karachi: In a significant move, the shareholders of Arif Habib Corporation Limited, during their Extra-Ordinary General Meeting (EOGM) held on March 19, 2025, have approved resolutions pertaining to share subdivision and capital restructuring. The meeting took place at the Stock Exchange Building in Karachi, commencing at 10:00 a.m.

The resolutions, addressing both ordinary and special business, were passed by the requisite majority of shareholders present in person, by proxy, or through e-voting and postal ballot. The certified true copy of the resolutions, in compliance with Pakistan Stock Exchange (PSX) Regulations, was presented at the meeting.

The ordinary business resolution confirmed the minutes of the Thirtieth Annual General Meeting held on November 27, 2024. The Chairman was authorized to sign the minutes as a token of confirmation.

On the agenda for special business was the approval of a share subdivision under Section 85(1)(c) of the Companies Act, 2017. According to the resolution, the existing capital structure of the company, including authorized, issued, and paid-up capital, will be altered. The face value of each ordinary share will change from Rupees Ten (Rs. 10) to Rupee One (Re. 1), effectively subdividing each share into ten ordinary shares of Re. 1 each. Importantly, this change does not alter the rights and privileges attached to the shares.

According to information available from the Pakistan Stock Exchange (PSX), this restructuring is a strategic decision aimed at enhancing share liquidity and accessibility for investors. The designated market category for this transaction remains consistent with standard regulatory frameworks governing such capital market activities.

This decision marks a notable development in the corporate strategy of Arif Habib Corporation Limited, aligning with their broader objectives of capital management and investor engagement.