MARI completes withheld bonus shares disposal

December 23, 2024 (MLN): Mari Petroleum Company Limited (PSX: MARI) has completed the disposal process for withheld bonus shares, which included 10% for filers and 20% for non-filers who did not pay their applicable tax amounts.

The aforementioned information was disseminated through a notification to Exchange, refers to the earlier letter, which outlined the release of withheld bonus shares to shareholders who had deposited the applicable withholding tax (WHT).

The company has confirmed that the proceeds from the disposal have been deposited into the government exchequer against the tax liability of these shareholders.

The release of the remaining shares, currently under lien, remains subject to ongoing proceedings in the Honourable Islamabad High Court (IHC), the notice further reads.

The company is actively pursuing the necessary legal directions to resolve the matter.

Mari Petroleum assures all stakeholders that both the Central Depository Company and the concerned shareholders will be promptly informed of the Honourable IHC's decision through the Pakistan Stock Exchange.

The company remains committed to transparency and to safeguarding the interests of all its stakeholders.

Copyright Mettis Link News