Karachi: Samba Bank Limited has announced the book closure dates for its Tier II Term Finance Certificate (TFC) holders regarding the eighth profit payment. The closure of the TFC transfer books is scheduled from February 21, 2025, to February 27, 2025, inclusive of both days. This announcement pertains exclusively to holders of the TFCs, in alignment with the provisions of the CDC Regulations, specifically Regulation Nos. 12.1.1, 12.2.1, and 12.4.1.

The bank's notice, which was disseminated as Annexure A, highlights the regulatory compliance concerning the TFCs. However, it does not call for an annual or extraordinary general meeting, nor does it entail any entitlements or bonus securities as recommended by the Board of Directors.

According to Regulation No. 12.2.1, there will be no notice of an annual or extraordinary general meeting, and the same applies to the meetings themselves, as they have been deemed not applicable. Regulation No. 12.1.1 specifies the dates for the closure of the TFC transfer books, while Regulation No. 12.4.1 mentions that there are no entitlements or allotment of bonus securities proposed.

According to information available from Pakistan Stock Exchange (PSX), this corporate action is a procedural requirement for Samba Bank Limited to ensure proper documentation and registration details of account holders and sub-account holders under the Central Depositories Act, 1997, and the CDC Regulations.

The designated market category for these TFCs remains unchanged, focusing on maintaining transparency and compliance with the established financial regulatory framework. TFC holders are advised to ensure that their registration details are up to date in accordance with the provisions outlined by the bank and the regulatory bodies.