Mari Energies Limited (PSX: MARI) has announced the implementation of directives issued by the Islamabad High Court (IHC) regarding tax compliance under Section 236Z of the Income Tax Ordinance, 2001.
In a stock filing to the Pakistan Stock Exchange (PSX) on Tuesday, the company said it had instructed the Central Depository Company (CDC) and its share registrar to act in accordance with the court’s decision.
As per the update:
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Liens have been lifted from the shares of all shareholders who have fulfilled their tax obligations under Section 236Z.
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For those who have not paid their tax dues, their withheld bonus shares—10% for tax filers and 20% for non-filers—will be sold through the company’s investor account to recover outstanding liabilities.
The company added that any remaining bonus shares, after settling dues, will be credited to the CDC accounts of the concerned shareholders. Mari Energies stated it is making every effort to complete this process as quickly as possible.
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