May 20, 2024 (MLN): Pakistan International Airlines Corporation (PSX: PIAA) Limited has announced May 25, 2024, as the final date of Book Closure (notified through PUCARS) to determine the Class “A” and Class “B” shareholders of the company.
This book closure follows the approval by the Securities and Exchange Commission of Pakistan (SECP) of the Scheme of Arrangement between Pakistan International Airlines Corporation Limited and PIA Holding Company Limited on May 3, 2024.
As a result, PIA shall stand delisted from the Exchange with effect from the final date of Book Closure i.e. May 25, 2024, and the last trading day shall be Friday, May 24, 2024.
PSX has informed that trading in the shares of PIAA and PIAB shall be allowed in the Regular Market (on a T+0 / Spot settlement basis) for the last two trading days as per the following schedule:
Sr
Day & Date
Time
Settlement Cycle
From
To
1
Thursday, May 23, 2024
09:15 a.m.
01:00 p.m.
(T+0)
2
Friday, May 24, 2024
09:00 a.m.
12:00 p.m.
(T+0)
Moreover, in terms of the Scheme of Arrangement, the Swap Ratio will be as under:
1 Class “A” share of PIA Holding Company Limited against 1 Class “A” share of Pakistan International Airlines Corporation Limited
1 Class “B” share of PIA Holding Company Limited against 1 Class “B” share of Pakistan International Airlines Corporation Limited
