Karachi: Philip Morris (Pakistan) Limited has announced a series of resolutions approved by its shareholders during an Extraordinary General Meeting held on July 24, 2025, signaling a significant development for the company and its stakeholders.

The meeting, conducted in Karachi, saw shareholders pass special resolutions authorizing Philip Morris Investments B.V., a sponsor and majority shareholder, to initiate a buyback of 1,444,931 ordinary shares from the general public. These shares are to be purchased at a price of PKR 1,300 per share, a decision ratified by the Voluntary Delisting Committee of the Pakistan Stock Exchange (PSX).

According to information available from the Pakistan Stock Exchange (PSX), the approval of these resolutions also paves the way for Philip Morris (Pakistan) Limited's delisting from the exchange. The delisting process will proceed under the Voluntary Delisting Regulations of the PSX, contingent upon the completion of all necessary regulatory procedures.

Additionally, the company's Chief Finance Officer and Company Secretary have been granted authority to sign and execute relevant documents and undertake necessary actions to facilitate the delisting process.

This development marks a very large or significant move for the designated market category, as Philip Morris (Pakistan) Limited prepares to transition away from public trading on the PSX.