⚡ Flash Summary

Jahangir Siddiqui & Co. Ltd. (JSCLPSA) has announced the full redemption of its Class ‘A’ Preference Shares, effective December 31, 2025. The redemption, approved by the Board on October 29, 2025, will occur at a price of PKR 10 per share. The share transfer register will be closed from January 1, 2026, to January 7, 2026, inclusive, and payments will be disbursed within 30 days of the book closure. This marks the end of all obligations related to the Class ‘A’ Preference Shares.

📌 Key Takeaways

• ✅ Full redemption of Class ‘A’ Preference Shares approved by JSCLPSA’s Board on October 29, 2025.
• 🗓️ Redemption effective December 31, 2025.
• 💰 Redemption price set at PKR 10 per share.
• 📜 Total issue size being redeemed is 183,188,477 Preference Shares.
• 🗓️ Dividend accumulation cut-off date is December 31, 2025.
• 🔒 Share transfer register closed from January 1, 2026, to January 7, 2026 (inclusive).
• 💸 Redemption proceeds and accumulated dividends will be disbursed within 30 days after the book closure.
• 🏦 Payments will be made via cheque, bank draft, pay order, or bank transfer.
• 🛑 No transfer of Class ‘A’ Preference Shares permitted during the book closure period.
• 📝 Shareholders must surrender physical share certificates by December 31, 2025, if applicable.
• ✉️ Shareholders should update contact and bank details with CDC Share Registrar Services Limited by December 31, 2025.
• Tax Withholding tax of 15% for filers and 30% for non-filers will be deducted from dividend income, as applicable.
• 🧾 Zakat exemption requires submission of a notarized Zakat Declaration Form (CZ-50).
• ℹ️ Contact shareholder@js.com for additional information or assistance.

🎯 Investment Thesis

HOLD. This announcement pertains solely to the redemption of preference shares. Preference shares are being redeemed at face value plus accumulated dividends. Since the shares are being redeemed, a neutral “HOLD” rating is appropriate. There is no upside or downside as the shares are effectively being cashed out. A buy or sell recommendation is not applicable in this situation.