⚡ Flash Summary

Popular Islamic Modaraba has announced its 12th Annual Review Meeting to be held on Tuesday, October 28, 2025, to review the Modaraba’s performance for the year ended June 30, 2025. The announcement specifies that the share transfer book will be closed from October 21, 2025, to October 28, 2025, to determine eligible certificate holders. The notice also addresses withholding tax on dividends, the availability of audited financial statements online, and the mandatory payment of dividends through electronic mode as per the Companies Act 2017. Certificate holders are encouraged to convert physical certificates into book-entry form and claim any unclaimed dividends to comply with regulatory requirements.

📌 Key Takeaways

• 🗓️ Annual Review Meeting scheduled for October 28, 2025, to assess performance until June 30, 2025.
• 🔒 Share transfer books will be closed from October 21-28, 2025, for eligibility determination.
• tax on dividends will be deducted according to the Income Tax Ordinance, 2001.
• 🌐 Audited financial statements are accessible online via a provided weblink and QR code.
• 💰 Payment of dividends is mandatory through electronic mode as per Section 242 of the Companies Act 2017.
• 🏦 Certificate holders must provide bank details for electronic dividend payments.
• 🔗 CDS account holders should submit bank details directly to their participant/CDC Investor Account Service.
• 📜 Physical certificates should be converted to book-entry form per Section 72 of the Companies Act, 2017.
• ⏱️ Conversion of physical certificates to book-entry form should be completed within four years from May 30, 2017.
• 📈 Book-entry form facilitates safe custody and easier trading of certificates.
• ⏳ Unclaimed dividends unclaimed for three years will be deposited with the Federal Government as per Section 244 of the Companies Act, 2017.
• 📄 Ninety-day notice will be issued for unclaimed dividends before depositing with the government.
• ⚠️ Non-compliance with dividend mandate may result in withheld dividend payments.
• 📍 The meeting will be held at 406-410, 4th Floor, Chapal Plaza, HasratMohani Road, Off. I.I.Chundrigar Road, Karachi

🎯 Investment Thesis

Based solely on this announcement, a HOLD recommendation is appropriate. The notice is purely administrative and doesn’t provide enough information to make an informed investment decision. A comprehensive analysis of the company’s financial performance and future prospects is needed before considering a BUY or SELL decision.