Conversion: Al Meezan becomes open-end fund
Al Meezan Investment said all regulatory and statutory formalities of the conversion process have been completed.
In this regard, Al Meezan Investment said all regulatory and statutory formalities of the conversion process have been completed. On the basis of swap ratio of 1:1, the holders of closed-end fund would receive one unit of open-end fund in lieu of one unit held of the closed-end entity. Separately, the board of directors of Al Meezan Mutual Fund, in a meeting held the other day, approved financial results for fiscal year ended June 30, 2011 and declared a final cash dividend of 16% ie Rs1.6 per share of Rs10 each.
Published in The Express Tribune, August 6th, 2011.
LATEST
Three terrorists killed in CTD operation in Peshawar
Additional IGP announces crackdown on illegal number plates in Karachi from Friday
Govt to tighten monitoring of trade in precious metals to curb money laundering, terrorist financing
Imran Khan's sisters stage sit-in outside Adiala Jail after being denied meeting with PTI founder
Christian employees in federal govt to receive salaries, pensions ahead of Xmas
Polio team attacked in Bajaur, two martyred including policeman
MOST READ
FIA stops passenger at Islamabad airport using brother’s passport
Race heats up for PIA privatisation as four bidders pre-qualified
Pakistan’s dual economies: stock market boom and a factory floor bust
Traders in Rawalpindi protest Murree Road expansion plan
K-P completes three hydropower projects, eyes Rs4.4bn annual revenue
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ