AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Habib Bank Limited (HBL) is set to close its transfer books later this month for the seventh profit payment of its ADT-1 TFC2 2022, known as “HBLTFC3”. The notice of book closure, as scheduled, will affect transactions from September 22, 2024, to September 28, 2024, according to information available from the Pakistan Stock Exchange (PSX).
The profit payment, originally due on September 28, a non-business day, will be disbursed on the subsequent business day, Monday, September 30, 2024. This is in alignment with the terms laid out in the Trust Deed dated December 9, 2022. Term Finance Certificate (TFC) holders eligible for the profit payment are those recorded in the register as of the close of business on September 20, 2024.
Furthermore, in compliance with Chapter 5C of the PSX Regulations, the profit will be directly credited to the TFC holders’ International Bank Account Numbers (IBANs). HBL has urged all TFC holders to ensure their IBANs and relevant personal details, including tax status, are updated in their Central Depository System (CDS) accounts. The bank’s Registrar in Karachi will be handling these updates.
Notices regarding this closure will be published in the “Business Recorder” and “Daily Jang” on Thursday, September 12, 2024, ensuring all stakeholders are informed timely of the upcoming financial activity.