AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Azgard Nine Limited has successfully executed payments for its outstanding and overdue preference shares, following a settlement plan approved by the preference shareholders on January 18, 2024. The settlement, which was formally communicated to the Pakistan Stock Exchange (PSX) on January 19, 2024, included the initial installment payments due on June 30, 2024.
According to information available from the Pakistan Stock Exchange (PSX), the settlement included full payment of both the principal and mark-up amounts for shareholders holding up to 2,500 preference shares. Additionally, those holding more than 2,500 shares received their first installment of the principal amount on the stipulated due date.
This financial maneuver reflects Azgard Nine’s commitment to addressing its financial obligations and restructuring its capital to better serve its shareholders’ interests. The successful completion of this installment marks a significant step towards regularizing the company’s financial affairs and restoring investor confidence.