Ali Asghar Textile Mills Limited’s placement of company on defaulters segment of exchange on account of default of the listing regulations

Karachi: Reference your letter No Kse/Gen-3584 dated June 07, 2011 regarding above subject matter due to failure to declare dividend / bonus for five years as per Listing Regulation No 30(2) as well as non payment of Annual Listing Fee for the year 2010-2011 as per Listing Regulation No 32.

In this regard we would like to inform you that company is in heavy financial loss due to Current market scenario Alongside that company is in a severe loss position due to plant and machinery requirement and we have to look for financial sources for urgent BMR required at our side for company to come to financial stability.

Apart from above referred problems you are well aware of the current load shedding in the city for about 8 to 9 hours daily, which is effecting us badly and even killing all industries including us, keeping in view of the factor we request you to please allow us sufficient time until we are back on track of profitability to declare dividend I bonus shares to share holders as well as pay your Annual Listing Fee for the year 2010-2011.

For more information, contact:
Rizwan Haseeb
Company Secretary
Ali Asghar Textile Mills Limited
306-308, Uni Tower,
I.I. Chundrigar Road, Karachi.
Tel: +9221 35078755
Fax: +9221 35074126