PPI Original Text (PPI-OT) – Allied Bank Limited’s sale of shares of Khushhali Bank Limited (KBL)

Karachi, June 05, 2012 (PPI-OT): Further to our letter No.CAG/CAW/2012/126 dated February 23, 2012 regarding sale of Khushhali Bank Limited shares we, Allied Bank Limited (ABL) (the Company), would like to inform you that we have entered into and executed a Share Purchase Agreement of the date hereof (the Agreement) with United Bank Limited consortium comprising of United Bank Limited; ASN-NOVIB Microkreditfunds; responsibility Global Microfinance Fund, Rural Impulse Fund II S.A. SICAV-FIS ; and Shore Cap II Limited (UBL Consortium). In terms of the Agreement, the Company has sold 20,000,000 shares (11.73% shareholding) owned by it in KBL in line with UBL Consortium’s bid of Rs. 20.44 (approximately) per share and in accordance with regulatory approvals.

For more information, Contact:
Muhammad Raffat
Company Secretary
Allied Bank Limited
8 Kashmir Road,
Lahore- 54000, Pakistan
Website: www.abl.com.pk

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