Karachi: Habib Bank Limited (HBL) has announced the book closure dates for the seventh profit payment of its ADT-1 TFC2 "HBLTFC3," scheduled in compliance with the Pakistan Stock Exchange regulations. The profit payment, which falls due on September 28, 2024, a non-business day, will be processed on the following business day, Monday, September 30, 2024.
In line with the Trust Deed dated December 9, 2022, the transfer books for "HBLTFC3" will be closed from September 22, 2024, to September 28, 2024. Shareholders are advised to ensure that all transfer deeds are received by the bank’s Karachi office by the close of business on Friday, September 20, 2024, to be eligible for the profit payment.
According to information available from the Pakistan Stock Exchange (PSX), this procedural timeline ensures that HBL adheres to regulatory frameworks and maintains transparent financial practices, particularly concerning its term finance certificates (TFCs). This upcoming payment reflects the bank's commitment to fulfilling its financial obligations to its certificate holders in a timely and efficient manner.
The announced book closure period is a standard practice in handling TFC payments, allowing the bank to finalize the list of beneficiaries eligible for the profit distribution. This period also aids in the administrative preparation necessary for executing a large-scale financial transaction on non-business days.