Securities and Exchange Commission of Pakistan Urges Shareholders to Convert Physical Shares into Book-Entry Form

Karachi, In a move to modernize and streamline the stock market operations, the Securities and Exchange Commission of Pakistan (SECP) has issued a directive, urging all shareholders of the Haleon Pakistan Limited to convert their physical shares into book-entry form. This action comes in accordance with the provisions set forth by the SECP, which require all listed companies to transition from physical shares to book-entry form within four years of the Act’s implementation.

Shareholders who still possess physical folios/share certificates are requested to expedite the process of converting their shares into book-entry form. The SECP encourages shareholders to seek assistance from Pakistan Stock Exchange members, Central Depository Company of Pakistan (CDC) Participants, or CDC Investor Account Service Providers in opening a CDS account and completing the conversion.

The conversion of physical shares into book-entry form offers numerous advantages to shareholders. One key benefit is the secure custody of shares with the CDC, ensuring the safety of investments. Additionally, this transition eliminates the need for formalities required for the issuance of duplicate shares in case of loss or damage. Shareholders will also enjoy the convenience of readily buying and selling their shares in the open market, potentially achieving better rates.