Tariq Corporation Limited has announced a significant change in its share capital following a resolution approved by its Board of Directors on September 22, 2026. The company has approved the conversion of its non-voting convertible preference shares into ordinary shares, along with the payment of accumulated dividends as of September 30, 2026.
According to the company’s disclosure, a total of 14,445,000 preference shares held by various shareholders will be converted into 7,222,500 ordinary shares. The conversion will be carried out in accordance with the existing term sheet governing the preference shares.
Paid-Up Share Capital to Increase
The conversion will lead to a notable change in Tariq Corporation’s issued and paid-up ordinary share capital. Following the issuance of the new ordinary shares, the company’s paid-up share capital will increase from 82,000,000 ordinary shares to 89,222,500 ordinary shares.
The disclosure form filed by the company further confirms that the Board’s September 22 resolution was passed through circulation. It states that the approval is subject to the final review and certification by the company’s auditors.
September 30 Set as Entitlement and Conversion Date
Tariq Corporation has also announced arrangements concerning its share transfer books. The books will remain closed on September 30, 2026 for determining shareholders entitled to the final preference dividend and for processing the conversion of preference shares into ordinary shares.
Transfers received by the company’s Share Registrar by the close of business on September 29, 2026 will be considered in time for processing dividend entitlements and the share conversion. The entitlement and conversion date has been set as September 30, 2026.
What the Conversion Means
The transaction represents a shift in the composition of Tariq Corporation’s share capital, with convertible preference shares being replaced by ordinary shares. The company has formally notified the Pakistan Stock Exchange of the decision under the applicable disclosure requirements of the Securities Act, 2015 and the PSX Rule Book.
For shareholders and market participants, the key figures are the 14.445 million preference shares being converted into 7.2225 million ordinary shares and the resulting increase in ordinary shares to 89.2225 million.
The company’s disclosure was signed by Khalid Mahmood, Company Secretary, and dated September 22, 2026.
