Bank Makramah announces next court hearing for proposed scheme of reorganisation
Scheme / ArrangementBank Makramah Limited informed the PSX that the next hearing concerning its proposed Scheme of Reorganisation is scheduled before the Islamabad High Court on November 2, 2026. If sanctioned by the Court, the Scheme would cancel a number of shares held by the Bank’s majority shareholder and sponsor, reducing his shareholding from 83.78% to 75.80%, and issue an equivalent number of ordinary shares to the remaining shareholders on a pro rata basis. The book closure date will be announced after sanction of the Scheme.
Key Findings
- The next hearing on the proposed Scheme of Reorganisation is scheduled for November 2, 2026, before the Islamabad High Court.
- If sanctioned, the Scheme would reduce the majority shareholder and sponsor’s holding from 83.78% to 75.80%.
- An equivalent number of ordinary shares would be issued to the Bank’s other shareholders on a pro rata basis.
- The book closure date will be announced following Court sanction of the Scheme.
Disclosure Details
Entities Involved
Bank Makramah Limited, Bank Makramah Limited’s majority shareholder and sponsor
Approvals Required
Sanction by the Islamabad High Court
Impact
If sanctioned, the Scheme would cancel a number of shares held by the majority shareholder and sponsor, reduce his shareholding from 83.78% to 75.80%, and issue an equivalent number of ordinary shares to the Bank’s remaining shareholders on a pro rata basis.
Risks
The Scheme is subject to sanction by the Islamabad High Court.
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.