The Karachi Stock Exchange (Guarantee) Limited’s terms, conditions and procedure for purchase of 1,724,400 shares of Pakistan Telephone Cables Limited by Mr. Raza Abdul Aziz A1-Raee and Mr. Abdullah Ran Al-Raee
Karachi: This is to inform to all the shareholders that Mr. Raza Abdul Aziz Al-Race and Mr. Abdullah Raza Al-Race the majority shareholder(s) of Pakistan Telephone Cables Limited (the Company) have decided to purchase all the shares of the Company held by others. The shareholders of the Company passed a special resolution for delisting of the Company from the Karachi Stock Exchange and Lahore Stock Exchange at the Extraordinary General Meeting held on April 02, 2012, copy of Special Resolution is being sent to the members separately.
Below are the set out terms, conditions and procedures for purchase of the shares of the Company by Mr. Raza Abdul Aziz Al-Race and Mr. Abdullah Raza Al-Race.
1. Mr. Raza Abdul Aziz Al Race and Mr. Abdullah Raza Al-Race are offering to buy the shares of the Company at a price of Rs. 5/- per share. This purchase price has also been approved by the Karachi Stock Exchange (Guarantee) Limited (KSE) and Lahore Stock Exchange (Guarantee) Limited in accordance with their Listing Regulations.
2. The share purchase offer will be valid from April 30 to June 28, 2012 both days inclusive. After this period, it is intended that the Company will be delisted from the Karachi Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited.
3. This offer is valid for all shareholders of the company (i.e. those shareholders holding physical share certificates and those shareholders whose shares are held as book-entry security in the Central Depository System of the Central Depository Company of Pakistan Limited (CDC).
4. In order to avail the offer, shareholders need to send (by either Registered mail or courier service) or personally take the following documents to our authorized Purchase Agent Rafi Securities (Pvt.) Limited, 1004, 10th Floor, Al-Rahim Towers, I. I. Chundrigar Road, Karachi, Ph- 111-159-111 Fax-3243963 1.
A. Physical Shares
i) For registered Shareholders:
Shares certificates with verified transfer deeds.
ii) For shareholders with open transfer deeds:
Share certificates with verified transfer deeds.
Copy of National Identity Card of the person who owns the shares.
Copy of purchase bill of the member of the respective stock exchange duly attested by the official of the respective stock exchange(s).
iii) Rafi Securities (Pvt.) Limited, will issue a receipt in exchange for the above documents. Once the share certificates, transfer deeds and other documents have been verified by the Company’s Shares Registrar, Technology Trades (Pvt.) Limited, 241-C, Block-2, P.E.C.H.S., Off: Sharah-e-Qaideen, Karachi, Ph. No. 021-3439161-7, Fax No. 021-34391318, shareholders will be requested to collect payment for their shares at the rate of Rs. 5/- per share less the member’s commission from Rafi Securities (Pvt.) Limited.
B. Shares through the CDC
The Purchase Agent would purchase the shares either through Karachi Automated Trading System (KATS) or as per following procedure:
Shareholders should arrange to credit Rafi Securities (Pvt.) Limited, account 04234 Rafi Securities (Pvt.) Limited.
Copy of request letter to participant/ broker for share transfer to Rafi Securities (Pvt.) Limited, account.
5. Payment to sellers through KATS will be made as per Clearing House Schedule of the Karachi Stock Exchange and Lahore Stock Exchange and to the other shareholders within three weeks of the date of issuance of the receipt.
For more information, contact:
Muhammad Azhar Jamali
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136