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

Karachi, June 05, 2012 (PPI-OT): We Askari Bank Limited (AKBL) (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 2.9% shares 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:
M.A. Ghazali Marghoob
Company Secretary
Askari Bank Limited
AWT Plaza, The Mall, P.O. Box 1084,
PABX: + 92 51 972150-3, 9063000
Fax: + 92 51 9272445- 927245

Leave a Reply