Modaraba Al-Mali to increase paid-up capital by issuing 11.39mn certificates

MG News | March 30, 2023 at 09:39 AM GMT+05:00

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March 30, 2023 (MLN): The Board of Directors (BoD) of the Modaraba Company on behalf of Modaraba Al-Mali (PSX: MODAM) has decided to increase the paid-up certificate capital of the Modaraba Ali-Mali by issuing 11.39 million further modaraba certificates.

These certificates will be issued by way of issuance of Right Modaraba Certificates to the members in the proportion of approximately 14.34 Right certificates for every 100 modaraba certificates held.

The aforesaid developments are subsequent to the receipt of the approval from the Registrar Modaraba of the SECP Modaraba Wing for the increase in the authorized capital of Modaraba Al Mali.

Separately, the board has also approved the draft Scheme of Compromises, Arrangement and Reconstruction, for the amalgamation/ merger of Modaraba Al-Mali along with the Modaraba Company with and into Digital Custodian Company Limited.

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