The Karachi Stock Exchange (Guarantee) Limited’s issuance of 182,844,984 right shares

Karachi: In compliance with clause 9 of your letter # C- 595-6602 dated October 01, 2010 we are pleased to inform you that a sum of Rs. 3,215/- for 643 ordinary shares have been received by our banker M/s Bank Alfalah Limited Up to the last date of payment.

Further, the Board of Directors in their meeting held on June 21, 2011 has approved the offer and allot the remaining portion of Rs. 914,221,705 for 182,844,341 to sponsors/shareholders. Hence, total amount of Rs. 914,224,920 against issue of 182,844,984 ordinary shares has been received.

Further, we are submitting the Auditors’ Certificate Ref # KA-ZS-1500 dated 27 June 2011 confirming total receipt of Rs. Rs. 914,224,920/ against total right issue of 182,844,984/ ordinary shares.

Confirmation for Paid-Up Capital

As requested, we confirm to have verified from bank statements and books and records of Al-Abbas Cement Industries Limited (“the Company”) that following amounts have been received by the Company against issuance of right shares at a discount of Rs.5 per share which was approved in the Board of Directors meeting held on 30 September 2010:

 

(Rupee)
Arif Habib Corporation Limited352,038,890
Haji Ghani-Director22,170,120
Minority Shareholders (excluding unsubscribed portion)3,215
———–
347,212,225
Arif Habib Corporation Limited for unsubscribed portion of minority right Shares412,012,695
Thatta Cement Company Limited for unsubscribed portion of minority right Shares128,000,000
———–
914,224,920

 

We further confirm that based on the above subscription amounts, the enhanced paid-up capital of the company will be Rs, 3,656,899,680 (Rupees three billion six hundred fifty six million eight hundred ninety nine thousand six hundred and eighty only) divided into ordinary shares of 363,089,968 shares of Rs.10 each. We have been given to understand by the management of the Company that, the Company is in process of issuing right shares, subject to completion of necessary regulatory formalities.

This confirmation is being issued on the specific request of the management of the Company and is only for submission to Karachi Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited.

For more information, contact:
Nadeem Ahmed Mazari
CFO and Company Secretary
Karachi Stock Exchange
Tel: +9221 111 001 122
Fax: +9221 3241 0825, +9221 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk