Newspaper notice to Shareholders for Conversion of Physical Shares to Book Entry Form
GlaxoSmithKline Pakistan Limited
Published in Business Recorder, Jang, Nawa e Waqt and Observer
Kindly refer to the provisions of Section 72 of the Companies Act, 2017 (‘The Act’) requiring all companies to replace their physical shares with Book-Entry-Form, within a period not exceeding four years from the date of the promulgation of the Act. i.e. May 30, 2017. The Securities and Exchange Commission of Pakistan (‘SECP’), vide their letter File No. CSD/ED/Misc./ 2016-639-640 dated 26th March 2021, have advised all listed companies to pursue their such shareholders who still hold shares in physical form, for converting the same into book-entry-form.
In view of the above and as advised by SECP, the shareholders who hold physical shares are requested to arrange to convert the same into book-entry-form. For this purpose, the shareholders shall be required to open an account with either Central Depository Company of Pakistan or any Trading Rights Entitlement Certificate Holder (Securities Broker) of the Pakistan Stock Exchange.
The benefits associated with the book-entry-form shares include “secure custody of shares”, “readily available for trading, whereas trading of physical scrips is currently not permitted”, “no risk of damaged, lost, forged or duplicate certificates”, “reduced stamp duty on physical to book-entry-form transfers”, “no stamp duty on electronic transfers in CDS”, “instantaneous transfer of ownership”, “instant receipt/credit of dividends and other corporate entitlements (i.e. bonus, rights and new issues, etc.)”.
- CDC Letter to Shareholders (PDF - 379.9KB)
- Transfer Deed Form (PDF - 246.6KB)
- SECP letter (PDF - 277.4KB)
For GlaxoSmithKline Pakistan Limited
Dated: May 07, 2021