Karachi: The Board of Directors of Bank Makramah Ltd (BML) has received a proposal from His Excellency Nasser Abdulla Hussain Lootah, the sole sponsor shareholder of the bank, regarding an adjustment to his shareholding. This disclosure, made in compliance with Sections 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange (PSX) Rule Book, outlines potential changes that could be beneficial for the bank and its shareholders.

In a letter addressed to the Board of Directors, His Excellency Lootah congratulated the bank on the Islamabad High Court's sanction of a scheme for restructuring. This scheme includes the merger of Global Haly Development Limited (GHDL) into BML and a reduction in the bank's share capital, marking significant progress in meeting the minimum capital requirement and capital adequacy ratio.

Following this sanction, Lootah holds 86.1% of the bank's shareholding. The initial share swap ratio was determined based on a share value of Rs. 2.14 for BML. However, the current quoted price on the Pakistan Stock Exchange has increased significantly. According to information available from the Pakistan Stock Exchange (PSX), Lootah proposes a re-evaluation and adjustment of the shares issued to him, based on a new per-share value of Rs. 6.25. This adjustment would reduce his shareholding to approximately 75.8%.

This proposal is subject to legal, accounting, and regulatory scrutiny, as emphasized by Lootah, who seeks advice from the board on its feasibility or any alternative approaches to achieve the intended outcome. The bank's board is expected to evaluate these considerations and inform the exchange accordingly, as per the designated market category.

The date of disclosure is November 19, 2025.