SAMBA BANK LIMITED ANNOUNCES BOOK CLOSURE FOR TFC PROFIT AND PRINCIPAL REPAYMENTS

Karachi: Samba Bank Limited has declared a book closure from August 26, 2024, to August 31, 2024, for the seventh principal repayment and profit distribution of its Tier II Term Finance Certificates (TFCs), scheduled for September 1, 2024.

The closure affects transfers of TFCs, with the bank’s registrar, M/s FAMCO Share Registration Services (Pvt.) Limited in Karachi, setting a deadline of August 23, 2024, for accepting transfers to be eligible for the upcoming profit payment. According to information available from the Pakistan Stock Exchange (PSX), this procedure aligns with the PSX’s updated rules as of June 12, 2024, under sub-clause (i) of Clause 5C.8 of Chapter 5C, mandating direct credit payments to TFC holders’ International Bank Account Numbers (IBANs).

TFC holders are urged to ensure their bank details, including valid IBANs, are updated in their Central Depository System (CDS) accounts. They are also reminded to submit valid tax exemption certificates to the bank’s registrar promptly to facilitate the direct credit process.

Notices of the book closure have been published in leading financial newspapers, the Business Recorder and Daily Dunya, today, on August 6, 2024. The notice serves to inform all certified TFC holders of the Exchange about the critical dates and requirements to partake in the profit and principal repayments due early next month.

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