Mughal Iron and Steel Industries Announces Book Closure for Sukuk-II Profit Payment

Karachi, Mughal Iron and Steel Industries Limited has announced that the first profit payment for Sukuk Certificates – II is scheduled for Thursday, March 28, 2024. To facilitate this, the company has declared a book closure period from Friday, March 22, 2024, to Thursday, March 28, 2024, during which the transfer books will remain closed.

The Central Depository System (CDS) transaction IDs must be submitted in order to the share registrar, M/s. Digital Custodian Company Limited, located at Perdesi house, 4th Floor, Old Queens Road, Karachi by the end of business on Thursday, March 21, 2024. This is necessary for the determination of profit payment entitlement for the Sukuk holders.

Sukuk holders are required to ensure their correct International Bank Account Number (IBAN) details are updated by March 21, 2024. Additionally, Sukuk holders should be aware that profit payments are subject to the deduction of income tax under section 151 of the Income Tax Ordinance 2001. To avoid this deduction, Sukuk holders must provide valid income tax exemption certificates to the Share Registrar, M/s. Digital Custodian Company Limited, by the aforementioned deadline.