Stylers International Announces Share Transfer Book Closure for Right Share Issuance

Karachi, Stylers International Limited has declared the closure of its Share Transfer Books from June 28, 2024, to July 5, 2024, for the purpose of determining shareholders’ entitlement to newly issued Right Shares. The decision follows the Board of Directors’ resolution on April 30, 2024, to issue Right Shares valued at Rs. 43.50 each, at a ratio of 12.3 Ordinary Shares for every 100 shares held.

The closure is aligned with the procedural requirements for Right Shares issuance, as stated during the recent board meeting. Shareholders must ensure their transfers are logged by June 27, 2024, at M/s F.D. Registrar Services, located on the 17th floor of Saima Trade Tower A, I.I. Chundrigar Road, Karachi, to qualify for the entitlement.

According to information available from the Pakistan Stock Exchange (PSX), the closure notices will be published in the Business Recorder and Nawa-e-Waqt newspapers on Saturday, June 22, 2024. This is in compliance with clause 5.6.9 (b) of the PSX Rule Book.

Stylers International has advised all TREC holders to update their records and inform their clients accordingly to ensure compliance with the share distribution schedule.