FTMM declares capital reduction

MG News | June 17, 2025 at 03:10 PM GMT+05:00

0:00

June, 17 2025 (MLN): First Treet Manufacturing Modaraba (PSX: FTMM) has declared a reduction in its Paid-Up Modaraba Fund/Capital from Rs8.83 billion, divided into 883.6 Modaraba certificates of Rs10 each, to Rs1.95bn, now divided into 195.6m Modaraba certificates of Rs10 each.

The reduction has been duly sanctioned pursuant to the Order passed by the Honorable Lahore High Court, Lahore, dated March 12, 2025, in Company Petition No. C.O. No. 6537 of 2025 (Certified Copy received on March 20, 2025).

To determine the entitlement of certificate holders, a book closure is scheduled as of June 20, 2025, which will serve as the cut-off date, the company's filing on PSX revealed today.

Each certificate holder as of the book closure date will be entitled to reduced certificates at a proportion of 22.137 certificates for every 100 certificates held.

The company further confirmed that no price adjustment is required in this regard, as the change is purely a case of capital reduction.

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