MARI's shareholders must settle withheld tax by Oct 15

MG News | October 02, 2024 at 01:41 PM GMT+05:00

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October 02, 2024 (MLN): Mari Petroleum Company Limited (PSX: MARI) has requested all shareholders to deposit their respective tax amount on bonus shares, by October 15, 2024.

To note, the 800% bonus issue, as approved by the shareholders of Mari Petroleum at the Annual General Meeting held on September 24, 2024, was dispatched/credited 90% for filers and 80% for non-filers to both physical and CDC shareholders of the company on September 27, 2024.

These shares were dispatched after withholding 10% (for filers) and 20% (for non-filers) of the bonus shares to cover the withholding tax liability (which is full and final) on bonus shares based on the day-end price on the first day of the book closure.

The shareholders are once again urged to pay the withheld income tax to the Company, failing which will enable the company to dispose of the withheld bonus shares to recover the withholding tax liability on behalf of the shareholders.

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