⚡ Flash Summary
Bank Makramah Limited (BML) has received sanction from the Islamabad High Court for its Scheme of Arrangement with Global Haly Development Limited (GHDL). This restructuring will allow BML to comply with the minimum capital requirement (MCR) set by the State Bank of Pakistan. As part of the scheme, BML will issue new ordinary shares to GHDL shareholders and reduce its share capital by cancelling shares unrepresented by available assets. The issued and paid-up share capital of BML will be Rs. 10 billion, divided into 1 billion ordinary shares of Rs. 10 each.
📌 Key Takeaways
- ✅ Islamabad High Court sanctioned BML’s Scheme of Arrangement with GHDL.
- 🏦 BML will now comply with the minimum capital requirement (MCR) of the State Bank of Pakistan.
- 📈 Issuance of fully paid ordinary shares of BML to GHDL shareholders.
- 📉 Reduction of share capital through cancellation of shares unrepresented by available assets.
- 💰 Issued and Paid-up Share Capital of BML will be Rs. 10,000,000,000.
- 📊 Capital will be divided into 1,000,000,000 ordinary shares.
- 🏷️ Each share will have a value of Rs. 10.
- 📢 Book closure details to be announced after consultation with the Exchange.
- 🌐 The court order can be viewed on the Islamabad High Court website.
- 🔗 Link to the order: https://mis.ihc.gov.pk/attachments/judgements/189089/1/189089_638991399946991320.pdf
- 📅 Announcement date: November 19, 2025
🎯 Investment Thesis
HOLD. The court sanction for the Scheme of Arrangement is a necessary step for BML to meet regulatory requirements. However, the announcement lacks sufficient details to assess the long-term financial impact and strategic benefits of the restructuring. A HOLD recommendation is appropriate until further information becomes available. Price target and time horizon cannot be determined without additional financial data.
Disclaimer: AI-generated analysis. Not financial advice.