April 6, 2026 (MLN):  PIA Holding Company Limited’s (PSX:PIAHCLA) shareholders approved the divestment of 75% of the issued and paid-up share capital of Pakistan International Airlines Corporation Limited (PIACL) to PIA Equity Limited, at an Extraordinary General Meeting.

The divestment will be carried out through a combination of direct share transfer and dilution of the company's shareholding via subscription of shares in PIACL by PIA Equity Limited, in accordance with the Transaction Documents under Section 183(3) of the Act.

Shareholders also gave the green light to the potential future sale of the remaining 25% stake should PIA Equity Limited exercise its call option under Clause 15.2 of the Share Purchase and Subscription Agreement (SPSA).

Upon valid exercise of the option and satisfaction of applicable conditions, the company would be obligated to transfer the residual shareholding to PIA Equity Limited.

The Chief Executive Officer and Company Secretary have been authorized to finalize, execute and deliver all agreements, documents and instruments required to complete the transaction.

The aforementioned  was disseminated through a notification to Exchange.

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