Karachi: Askari Bank Limited has announced its decision to exercise a call option on a term finance certificate (TFC) issue totaling PKR 6 billion. This move is set to take place on September 17, 2025, as the bank seeks to redeem the entire principal outstanding amount along with accrued profit, following the provisions outlined in the Trust Deed dated December 24, 2019.

The TFCs in question are rated, subordinated, and unsecured, and the call option exercise is in accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited. The bank's decision to redeem the TFCs will see the transfer books closed from September 2 to September 16, 2025, with entitlements determined based on entries received by the close of business on September 1, 2025.

According to information available from the Pakistan Stock Exchange (PSX), this exercise of the call option reflects the bank's adherence to the stipulated terms and conditions contained within the Trust Deed and the TFC's schedule. These steps are aligned with the bank's financial strategies and regulatory compliance obligations.

The bank has appointed the CDC Share Registrar Services Limited to handle the registrar services associated with the TFCs, ensuring that all procedural requirements are met in a timely manner. The exercise of the call option underscores the bank's commitment to maintaining transparent financial practices and fulfilling its obligations to TFC holders.