AHCL issues 13.3m shares under AHL demerger scheme

MG News | November 19, 2024 at 01:17 PM GMT+05:00

0:00

November 19, 2024 (MLN): As part of the demerger scheme for Arif Habib Limited (AHL), Arif Habib Corporation Limited (AHCL) has issued 13,321,747 new shares to AHL shareholders under a share swap arrangement at a ratio of 0.8673 AHCL shares per AHL share.

As of November 18, 2024, 12,965,525 shares have been credited to shareholders’ accounts maintained with Central Depository Company of Pakistan Limited.

The remaining 356,222 shares, for shareholders with physical certificates, will be available for collection from November 25, 2024, or dispatched by post after November 28, 2024.

Due to this allotment, AHCL’s paid-up capital has increased from 408.38 million shares to 421.70m shares.

To recall, on October 22, the Honorable High Court of Sindh at Karachi sanctioned a demerger Scheme for AHL, allowing the transfer of certain non-core businesses, including assets, liabilities, and obligations, to AHCL, its holding company.

Accordingly, AHL will continue to operate its business as usual.

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