Bank Makramah files scheme to reorganise share capital, aims to benefit minority shareholders
Under the new scheme, sponsor’s shareholding in Bank Makramah to reduce by 10.32%, from 86.12% to 75.8%, with new shares issued to minority shareholders, free of charge
Bank Makramah Limited has filed a Scheme of Arrangement before the Islamabad High Court (IHC) to reorganise its share capital, following approval from the bank’s Board of Directors.
According to a filing at the PSX, the proposed scheme, subject to regulatory approvals and IHC’s sanction, will benefit the bank’s minority shareholders by issuing new shares from the sponsor’s existing holding.
Currently, the sponsor holds 861,163,882 shares, representing 86.12% of the bank’s total issued capital. The new scheme will reduce the sponsor’s shareholding by 10.32%, bringing it to 75.8%. The equivalent number of shares will be issued to the remaining shareholders, free of charge.
Shareholders who are registered on the bank’s Book Closure Date, to be decided post-IHC approval, will be eligible to receive the new shares.
The bank’s decision to proceed with the scheme reflects its ongoing efforts to strengthen shareholder equity and improve the ownership structure, with a focus on rewarding smaller stakeholders.
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