Tariq Corporation Limited Converts Preference Shares to Ordinary Shares
What happened
The board of Tariq Corporation Limited approved the conversion of 14.445 million non-voting convertible preference shares into 7.2225 million ordinary shares, according to a disclosure to the Pakistan Stock Exchange. This resolution, passed by circulation on September 22, 2026, also included the payment of accumulated dividends as of September 30, 2026. The conversion will raise the company’s paid-up share capital from 82 million to 89.2225 million ordinary shares.
From propakistani.pk
Why it matters
The conversion changes the company's capital structure by increasing the number of ordinary shares. This action is carried out in accordance with the term sheet of the preference shares. The company has set a closing date of September 30, 2026, for processing the conversion and determining dividend entitlements.
From propakistani.pk
Who's involved
- boardThe board formally holds ultimate authority and oversees the company's leadership and strategic direction.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- boardSpeculative
The board might see changes in the company's capital structure following the share conversion.
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The entities involved
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board
function designation