BML to close books for reduction of shares

January 17, 2026 (MLN): Bank Makramah Limited (PSX:BML) has moved ahead with a key step in its restructuring process by closing its share transfer books in connection with a court-approved reduction of share capital. 

The development follows the Islamabad High Court’s sanction of a scheme of arrangement between the bank and Global Haly Development Limited, under which GHDL has been merged into Bank Makramah.

As part of the scheme, over 12.36 billion fully paid ordinary shares have been issued to GHDL shareholders as consideration for the merger, while the bank’s existing share capital has been proportionately reduced through the cancellation of shares not backed by available assets. 

Following the restructuring, the bank’s issued and paid-up share capital stands at Rs10 billion, comprising one billion ordinary shares of Rs10 each.

The share transfer books will remain closed on January 31, 2026 to determine shareholders’ entitlement to the newly reduced shares, according to a notice issued by the company.

Shareholders recorded on the register of members by January 30, 2026 will be eligible to receive the new shares, with transfers completed by that date considered valid for entitlement.

In addition, all existing physical share certificates will stand cancelled from January 31, 2026, and shareholders holding shares in physical form will be required to surrender their certificates to the share registrar for issuance of new ones.

Copyright Mettis Link News