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Karachi: JS Investment Limited has declared its intention to buy back up to 4,630,000 of its issued ordinary shares, as per the deliberations of its Board of Directors meeting held on September 11, 2024. The proposed buy-back aims to enhance shareholder value by converting the purchased shares into Treasury Shares.
The company, listed under the Financial Services category on the Pakistan Stock Exchange, plans to execute this buy-back through the Exchange from October 21, 2024, to December 20, 2024, or until completion. Shares will be purchased at the current market price during this period, subject to company approval.
According to information available from the Pakistan Stock Exchange (PSX), this buy-back represents approximately 7.5% of JS Investment Limited’s total outstanding shares. The initiative is intended to improve the company’s break-up value and earnings per share (EPS), while offering an exit strategy for shareholders wishing to liquidate their holdings.
An Extraordinary General Meeting (EGM) is scheduled for October 14, 2024, in Karachi, where shareholders will vote on this proposal. The notice of this meeting will be issued through PUCARS in due course. Additionally, the company’s register of members and share transfer books will remain closed from October 7, 2024, to October 14, 2024, with transfers received by the close of business on October 11, 2024, being eligible for determining attendance and voting rights at the EGM.
TRE Certificate Holders have been informed of these developments to maintain transparency and compliance with regulatory standards.