First Habib Modaraba — M&A Activity 2022

First Habib Modaraba
(An Islamic Financial Institution)
(Managed by: HabibMetro Modaraba Management)

FHM/PSX/35597/2022
March 30, 2022

The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.

SUBJECT: DISCLOSURE OF MATERIAL INFORMATION

Dear Sir,

In accordance with Section 96 and Section 131 of the Securities Act 2015 and clause 5.6.1 of the Rule Book of Pakistan Stock Exchange Limited, we hereby convey the following information;

At the meeting of the Board of Directors of Habib Metropolitan Modaraba Management Company (Private) Limited, being the Modaraba Management Company for First Habib Modaraba held on March 30, 2022 at the registered office of the Company, the Board of Directors has resolved in principle to merge Habib Metro Modaraba with and into First Habib Modaraba subject to the approval of Securities and Exchange Commission of Pakistan and other concerned authorities. The merger is likely to benefit the Certificate holders through cost efficiencies and business synergies. The Board of directors has advised the management to undertake necessary steps in this regard.

You may please inform the TRE Certificate Holders accordingly.

Yours Sincerely,

6th Floor, HBZ Plaza, (Hirani Center) I.I. Chundrigar Road, Karachi-74200.
UAN: 111-346-346 TEL: 32635949-51 E-MAIL: [email protected]
WEBSIT: www.habibmodaraba.com
HMMM is a subsidiary of Habib Metropolitan Bank

HABIBMETRO
Modaraba Management