The Karachi Stock Exchange (Guarantee) Limited’s request for delisting of term finance certificates

Karachi: We refer to your notice # KSE/N-778 dated February 18, 2011 and enclose herewith a copy of the auditor’s certificate In line with the full and final redemption of Term Finance Certificates (TFCs).

Redemption of Term Finance Certificates

We have verified from the books of accounts and records of Searle Pakistan Limited that the secured obligations in respect of Term Finance Certificates (TFCs) amounting to Rs. 400 million issued by Searle Pakistan Limited under a trust Deed dated July 18, 2005 have been fully and finally discharged by paying the final redemption along with accrued interest on TFCs. The payments made to the TFC holders have been checked from redemption warrants and bank statements on a sample basis from bank account exclusively opened for redemption of TFCs.

The certificate has been issued on the specific request of the management of Searle Pakistan Limited, solely for the purpose of submission with the Karachi Stock Exchange (Guarantee) Limited for delisting of TFCs from the Stock Exchange.

For more information, contact:
Karachi Stock Exchange
Tel: +9221 111-001 122
Fax: +9221 3241 0825, +9221 3241 5136