JS Global Capital Limited’s change of financial year

Karachi, June 08, 2012 (PPI-OT): Please refer to our letter Ref No. JSCCL /FIN/215/2012 dated May 28, 2012 in respect of the aforesaid subject.

We are pleased to inform that the Securities and Exchange Commission of Pakistan has granted approval to change the Company’s Financial Year from July-June to January December, along with necessary permissions / approvals. A copy of the SECP’s approval letter is attached.

Accordingly, the current Financial Year has been extended to eighteen to end on December 31, 2012.

Reference is made to JS Global Capital Limited’s the application dated May 31, 2012 filed with the Commission pertaining to the above mentioned subject.

2. In view of the circumstances mentioned to the said application. I am directed to inform you that JS Global Capital Limited June to January – December in accordance with the provisions of the Section 238 of the Companies Ordinance 1984. The Company is also allowed with the following approvals/ permissions:

Waiver of the requirement for laying accounts for Calendar year 2012.

To prepare accounts for a period of eighteen (18) months period starting from July 01, 2011 to December 31, 2012.

Waiver from holding of annual general meeting for the calendar year 2012.

Extension for holding of annual general meeting of the Company for the calendar year 2012 up to April 30th 2013 i.e. fifteen months from last preceding annual general meeting.

The Company is also advised to

a. intimate all the shareholders, stock exchanges and other stakeholder about this change in financial year of the Company, immediately.

b. Circulate to the shareholders, stock exchanges and the Commission, the financial statements of the Company for the period ended June 30, 2012 duly reviewed by the statutory auditors of the Company.

4. This approval is being granted without prejudice to any other action which the Commission may take under the law.

For more information, Contact:
Amir Saleem
Deputy Director – Enforcement
JS Global Capital Limited
6th Floor, Faysal House,
Shahrah-e-Faisal Karachi
Phone: +92 21 111 574 111
Fax: +92 21 3280 0163
Web: www.js.com

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