Karachi, Mughal Iron & Steel Industries Limited has announced the closure of its transfer books in preparation for the 9th rental and 5th principal payment of its Sukuk Certificates - I. The closure will be effective from May 26, 2023, to June 02, 2023, inclusive of both days.
The closure of the transfer books is a necessary step to determine the entitlement of sukuk holders for the upcoming payment. To ensure timely processing of rental and principal payments, M/S THK Associates (Private) Limited, the Share Registrar, will consider Central Depository System (CDS) Transaction IDs received by the close of business on May 25, 2023.
Mughal Iron & Steel Industries Limited has been committed to fulfilling its financial obligations to sukuk holders, and this announcement reinforces its dedication to maintaining transparency and efficiency in its operations. The company's adherence to timely payments is a testament to its strong financial position and commitment to its stakeholders.
Sukuk Certificates are Islamic financial instruments that resemble bonds but comply with Islamic principles. Mughal Iron & Steel Industries Limited issued Sukuk Certificates - I to raise capital for its business expansion and investment plans.