The Karachi Stock Exchange (Guarantee) Limited’s issuance of right shares @ 140% at PK Rs. 2.50
Karachi: Please refer to your letter No. KSE/C-1081-2772 dated May 04, 2011 on the subject.
With reference to our application for the issuance of right shares, we hereby further confirm as under:
We shall abide by the CDC and KSE producers relating to right shares and shall deposit the unpaid right in De Mat (Book Entry) within the timeframe as stipulated under the CDC produces as well as the KSE Regulations vide letter No. KSE/C-1081-2772 dated May 04, 2011.
The payment of unpaid right letter will be made by cash or crossed cheque or demand draft or pay order made out to the credit of “First National Equities Limited – Right Shares Subscription Account” through any or the authorized branches of Summit Bank Limited in Pakistan as per tentative schedule submitted to you vide our letter No. FNEL/KSE/209/11/31 dated August 16, 2011.
The shareholder holding shares of the company in physical form should please note that under the CDC applicable right shares produces, the physical shareholder can renounce his/her Letter of right (LOR) by routing through his/her own CDC IAS Account/ sub account to a shareholder who is the IAS Account holder or sub account holder with CDC and no credit of Right shares will be allowed in book entry form against subscription of physical Letter of Rights (LORS).
You are kindly requested to approve the tentative schedule, draft of letter of right to physical shareholder and draft letter of intimation already submitted vide our above referred letter.
Book Closure: From August 18,2011, to August 24, 2011 (Both days inclusive)
|1.||Date of credit of unpaid Rights into CDS in Book Entry From||Thursday||25.08.2011|
|2.||Dispatch of Letter of Rights (LOR) to physical shareholders||Thursday||25.08.2011|
|3.||Intimate to KSE for Dispatch of Letter of Rights (LOR) to physical Shareholders||Thursday||25.08.2011|
|4.||Commencement of Trading of unpaid Rights on Karachi Stock Exchange||Monday||29.08.2011|
|5.||Last date for splitting and deposit of Request income CDS||Wednesday||07.09.2011|
|6.||Last date of Trading of unpaid Rights on Karachi Stock Exchange||Thursday||15.09.2011|
|7.||Last date for Acceptance and payment of Shares in physical/CDS||Wednesday||21.09.2011|
|8.||Allotment of shares and credit of book entry of shares in CDS||Friday||30.09.2011|
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136