Karachi: United Bank Limited (UBL) has announced the completion of its share sub-division process, effectively altering the structure of its ordinary shares. This development comes following an earlier announcement made on June 3, 2025, regarding the subdivision under Section 85(1)(c) of the Companies Act, 2017. The sub-division has resulted in the face value of UBL's ordinary shares being reduced from Rs. 10 each to Rs. 5 each.

The process, which required a special resolution from shareholders and the fulfillment of regulatory requirements, has been successfully executed. According to information available from the Pakistan Stock Exchange (PSX), the revised shares reflecting this sub-division have been credited into the respective sub-accounts of entitled members maintained with the Central Depository Company of Pakistan Limited as of June 21, 2025.

Shareholders in possession of physical share certificates are advised to surrender their original certificates, along with duly verified transfer deeds if applicable, and a copy of their valid CNIC to UBL's Share Registrar, THK Associates (Pvt.) Limited, based in Karachi. The exchange for new share certificates, now reflecting the revised face value of Rs. 5 each, can occur after June 30, 2025.

Following this sub-division, UBL's subscribed and paid-up capital has been restructured. The Bank's paid-up share capital, which previously consisted of 1,252,123,875 ordinary shares of Rs. 10 each, now comprises 2,504,247,750 ordinary shares of Rs. 5 each. This represents a Big move in the volume of shares, although it does not alter any rights or privileges associated with the shares.

The Bank has requested relevant parties to update their records to reflect its revised paid-up capital structure. Supporting documents, including a CDC Confirmation Letter, Auditors' Certificate, and an advertisement scheduled for publication on June 24, 2025, have been enclosed for reference.