Habib Metropolitan Modaraba Management Company to Review First Habib Modaraba’s Annual Accounts for FY 2023

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Karachi, The Habib Metropolitan Modaraba Management Company (Private) Limited has announced a scheduled meeting of its Board of Directors on September 13, 2023, in Karachi. The primary agenda of this meeting is to review and consider the Annual Accounts of First Habib Modaraba for the fiscal year ending on June 30, 2023, with the intention of discussing the declaration of any entitlements for the modaraba’s stakeholders.

In accordance with Clause 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations, the company has officially declared a “Closed Period” from September 6, 2023, to September 13, 2023, inclusive. This declaration restricts any Director, CEO, or Executive, whether directly or indirectly, from engaging in any transactions involving the shares of the company during this Closed Period.

The Closed Period serves to ensure fairness and transparency in the market by preventing potential insider trading or market manipulation. During this period, individuals holding key positions within the company are prohibited from trading shares, maintaining equal access to information for all shareholders.

The forthcoming Board meeting holds significant importance for First Habib Modaraba and its stakeholders. It will provide a platform for the Board of Directors to assess the modaraba’s financial performance and decide on any entitlements for its stakeholders. The outcome of this meeting will have implications for investors and may influence their future decisions related to the modaraba’s participation certificates.

The Habib Metropolitan Modaraba Management Company is dedicated to upholding transparency and adherence to regulatory requirements, fostering trust among its stakeholders and the broader financial community. Further details regarding any entitlements will be communicated following the Board’s deliberations on September 13, 2023.

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