Askari Life Assurance completes 51% share transfer from AWT to Fauji Foundation

MG News | September 01, 2026 at 12:54 PM GMT+05:00

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September 01, 2026 (MLN): Askari Life Assurance Company Limited (PSX:ALAC) has completed the transfer of fifty-one percent (51%) shareholding from the Army Welfare Trust (AWT) to Fauji Foundation (FF), with the transaction executed on August 28, 2026.

The company said 76,587,727 ordinary shares, representing 51% of its total issued and paid-up share capital, have been repositioned from AWT to FF at carrying cost.

The development follows the company's earlier disclosures dated July 8, July 17, and July 24, 2026 regarding the proposed transfer.

The company reiterated that the transaction does not constitute an acquisition, merger, or change in control in the nature of commercial or investment activity having an impact on the market or competition, nor does it result in any material alteration in the ultimate beneficial or economic control of the Company.

The aforementioned information was disseminated through a notification to Exchange.

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