Wateen Telecom Limited’s financial results for the year ended June 30, 2012

Karachi, June 17, 2013 (PPI-OT): We are pleased to inform you that the Board of Directors of Wateen Telecom Limited (WTCL) in their meeting held on June 13th 2013 at 02:00 PM has approved the financial results of the Company for the year ended June 30, 2011 and recommend the following:

Cash Dividend
Nil

Bonus Shares
Nil

Right Shares
Nil

The Financial results of the Company for the year ended June 30, 2012 are as follows:


                                                                  2012             2011
                                                                Rs (‘000)        Rs (‘000)

Revenue                                                         7,501,669        8,778,628
Cost of sales (excluding depreciation and amortisation)         7,001,763        5,672,673
General and administration expenses                             1,731,337        1,734,364
Advertisement and marketing expenses                              290,758          243,011
Selling and distribution expenses                                  45,273           13,935
Provisions and write off                                          351,660        1,741,185
Other (income)/ expenses                                           76,081         (110,192)
                                                               ----------        ---------
Loss before interest taxation, impairment
depreciation and amortisation                                  (1,995,203)      (2,516,348)
Less: Depreciation and amortisation                             2,148,382        2,067,451
Provision for impairment of WIMAX assets                         9,622973              -
Finance cost                                                    3,211,610        2,337,949
Finance income                                                   (140,213)        (146,722)
                                                               ----------        ---------
Loss before taxation                                          (16,837,955)      (6,775,032)
Deferred income tax (expense)/ credit                          (1,718,574)       1,793,167
                                                               ----------        ---------
Loss for the year                                             (18,556,529)      (4,981,865)
                                                               ----------        ---------
Loss per share-Basic and diluted (Rs)                              (30.05)           (8.07)
                                                               ----------        ---------

Annual General Meeting

The Annual General Meeting of the Company will be held on Wednesday, July 10th 2013 at 10:00 A.M. at Hotel Sunfort, 72-D/1, Liberty Commercial Zone, Gulberg-III, Lahore, Pakistan. The share transfer books of the Company will be closed from July 4th 2013 to July 10th 2013 (both days inclusive). Transfer received at the share registrar, THK Associates (Pvt) Limited, 2nd Floor, State Life Building No. 3, DR. Zia Ud Din Ahmed Road, Karachi, on July 3rd, 2013 will be treated in times.

We will send you 300 no. of copies for distribution amongst shareholders.

For more information, contact:
Sajid Farooq Hashmi
Company Secretary
Wateen Telecom Limited
4th Floor, New Auriga Centre,
Main Boulevard,
Gulberg II, Lahore, Pakistan
UAN: 111-365-111
Fax: +92-42-35787000
Web: www.wateen.com
Email: info@wateen.com