Thal Limited’s High Court Order

Karachi, June 26, 2012 (PPI-OT): This is to inform you that the High Court of Sindh at Karachi by order dated 11 June 2012 in Judicial Miscellaneous Application 8 of 2012 (“the Order”) sanctioned the Scheme of Arrangement under Section 284 and Section 287 of the Companies Ordinance, 1984 between inter cilia Makro-Habib Pakistan Limited, Metro Cash and Carry Pakistan (Private) Limited, and Habib Metro Pakistan (Private) Limited. Makro-Habib Pakistan Limited is a wholly owned subsidiary of Thal Limited (THALL). Prior to the effectuation of the Scheme of Arrangement, Habib Metro Pakistan (Private) Limited was a wholly owned subsidiary of Thal Limited. The Order became effective today by its filing with the Registrar of Companies, Karachi.

Pursuant to the Order, the cash and carry business of Makro-Habib Pakistan Limited has been transferred to and vested in to Metro-Habib Cash and Carry Pakistan (Pvt) Limited (formerly known as Metro Cash and Carry Pakistan (Private) Limited), which has issued shares to Thal Limited, such that Thal Limited now has 25% shareholding in Metro-Habib Cash and Carry Pakistan (Private) Limited, the remainder being held by METRO Cash and Carry International Holding B.V.

Pursuant to the Order, Makro-Habib Pakistan Limited has transferred a significant portion of the immovable property on which its stores are located to Habib Metro Pakistan (Private) Limited, which has issued shares to Thal Limited such that Thal Limited now has 60% shareholding in the Habib-Metro Pakistan (Private) Limited.

Pursuant to the Order, Metro Cash and Carry Pakistan (Private) Limited has transferred a significant portion of the immovable property on which its stores are located to Habib Metro Pakistan (Private) Limited, which has issued shares to METRO Cash and Carry International Holding B.V. such that it has 40% shareholding in Habib Metro Pakistan (Private) Limited.

For more information, Contact:
Ali Asghar Moten
Company Secretary
Thal Limited
4th Floor, House of Habib, 3-Jinnah C. H. Society,
Block 7/8, Shahrah Faisal, Kargchi-75350
Tel: (92-21) 431-2030
Fax: (92-21) 431-2318

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