Modaraba AI-Mali Receives Rs. 13,058,800 from Substantial Certificate Holder for Right Share Allotment

Karachi, In a significant development, Modaraba AI-Mali has successfully received funds amounting to Rs. 13,058,800 from a substantial certificate holder, as confirmed by a certificate issued by the management. The certificate will serve as evidence of the receipt of funds required by the Companies (Further Issue of Shares) regulations, 2020, for the purpose of submission to the Pakistan Stock Exchange Limited (PSX).

The verification process included scrutinizing the bank statement of JS Bank Limited account number 0001873397, held under the name Modaraba AI-Mali – Right Subscription Account. Additionally, the documents pertaining to the transfer of funds from the substantial certificate holder, who happens to be the Management Company, were also thoroughly examined.

After conducting the necessary verifications, the management of Modaraba AI-Mali is pleased to certify that the specified amount of Rs. 13,058,800 has been received in the JS Bank Limited account by the close of business hours on June 2, 2023. The funds were deposited into the Modaraba AI-Mali – Right Subscription Account, as mentioned in the certificate.