Tariq Corporation's Board approves conversion of preference shares into ordinary shares

Tariq Corporation's board has approved converting its non-voting convertible preference shares into ordinary shares, together with paying dividends accumulated up to September 30, 2026. According to Mettis Global, the decision was taken through a circular resolution dated September 22, 2026. Under its terms, 14,445,000 preference shares will be exchanged for 7,222,500 ordinary shares, following the preference share term sheet.

The change is described as significant, as issued and paid-up capital will climb from 82,000,000 ordinary shares to 89,222,500 shares. The share transfer books will be closed on September 30, 2026, both to identify preference holders due the final preference dividend and to handle the conversion. Transfers lodged with the Share Registrar before business ends on September 29, 2026 will be included in both the dividend entitlement and the conversion.

September 30, 2026 has been fixed as the date for entitlement and conversion. The company made the disclosure through a notification to the exchange, as reported by Mettis Global.