Business
Askari Bank : Disclosure of Material Information-Call Option of TFC VII Issue
Askari Bank : Disclosure of Material Information-Call Option of TFC VII
About this update from Askari Bank Limited
[{"type":"text","content":"\n askaribank\n \n \n LIMITED\n \n \n \n SECTT/PSX/178/2025 July 8, 2025\n \n \n The General Manager\n \n \n Pakistan Stock Exchange Limited Stock Exchange Building\n \n \n Stock Exchange Road Kai'achi\n \n \n Dear S\n \n \n Subject: Disclosure of Material Information -Call Option ofTFC VII Issue\n In accordance with Sections 96 and 131 o1 the Securities Act, 2015, and Regulation 5.6.1(a) of' PSX Rule Book of Pakistan Stock Exchange Limited (1°SX), we hereby corivey the following information:\n \n \n Askari Bank Limited (the \"Issuer\") has issued Rated, Subordinated and Unsecul'ed Tler II term finance certificates (\"TFCs\") in the aggregate amount of PKR 6,000,000,000/- (Pak Rupees Six Hillion) (\"TFC Issue\") pm suant to the Ti ust Deed dated December 24, 2019 (\"Trust lJeeiI\") executed betweeli the Issuer and Pak Oman Investment Company Liiaiited (as the \"Trustee\").\n Pui'suant to the approval of the Board of' Directors of the Issuer given in its meeting held on Apr i1 29, 2025 and in accordance with the tei'ins of the Trust Deed and the tenns and conditions applicablc in respect of the TFCs as provided in Schedule 2 of the Tritst Deed (\"Terms antl Conilitions\"), lhe Issuer has decided to exercise the Call Option in full in respect of the TFC Issue as provided under Clause 3.12 o1 the Ti'ust Deed and Clause 27 of the Terms and Conditions (\"Call Option\"), tor the purpose of which, the State Bank of Pakistan has granted its appi'oval to the Issuer vide its letter' dated July 7, 2025.\n \n \n Please note that the notices to the Ti'ustee and the \"1 ICC Holdens as well as ally statutory and other requirements in respect of the Call Option will be made in due coui'se of time in accordance with the provisions of the Trust Deed.\n \n \n You may please inform the TRE Certificate Holders of the Exchange accoi dingly. For Askari Bank Limited\n \n \n Copy to:\n \n \n Executive Dii'ector/HOD\n \n \n Offsite-11 Department, Supervision Division Securities & Exchange Commission of Pakistan Islamabad\n ","length":3033,"tagName":"div"}]