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Monthly Archives: June 2011

Abbrar Cheema’s pictures display


Lahore: The pictorial exhibition of renowned photographer Abbrar Cheema held in the Ejaz Art Gallery. The exhibition comprised pictures of horse-riding, traditional festivals of Punjab province, buildings and recreational places of Pakistan. Punjab University Vice-Chancellor Prof Dr Mujahid Kamran and a large number of art-lovers visited the exhibition. Talking to media-men after the visit, Vice-Chancellor Dr Mujahid Kamran said Abbrar Cheema was a unique photographer who have snatched photographs with such an angle that everybody wish to witness every photograph [...]

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Maple Leaf Cement Factory Limited’s Resumption of trading in the Preference Shares of the Company

Karachi: In this connection, please be informed that the Company has cancelled 514,593 preference shares of Rs. 10/- each as requested by the Preference Shareholders through Central Depository System (CDS) of Central Depository Company of Pakistan Limited (CDC) and / or physical from and consequently 603,420 ordinary shares of Rs. 10/- each have been issued / allotted / credited to them by way of conversion. Accordingly, we are pleased to enclose herewith Auditors’ Certificate (certified true copy) towards paid –up capital position of the Company as under. Description of Paid up Capital Preference Shares Amount (Rs.) No. of Preference Shares of Rs. 10/-each Paid-up capital / Total Issue (before cancellation) 541,473,980 54,147,398 Less: Number or securities cancelled 5,145,930 514,593 ----------- ----------- Paid-up capital/Total Issue (after cancellation) 536,328,050 53,632,805 Ordinary Shares Amount (Rs.) No. of Ordinary Shares of Rs. 10/- each Paid-up capital (before conversion) 5,261,095,090 526,109,509 Add: Number of securities (issued in lieu of conversion) 6,034,200 603,420 ----------- ----------- Paid-up capital (after conversion) 5,267,129,290 526,712,929 CONVERSION OF PREFERENCE SHARES INTO ORDINARY SHARES We have reviewed the relevant records maintained by Maple Leaf Cement Factory Limited (the "Company") regarding conversion of preference shares into ordinary shares and report that as on May 30, 2011: 1. 514,593 Redeemable Preference Shares have been cancelled in accordance with Articles of Association of the Company and the terms of issue of these shares. 2. Pre and Post factual position of paid-up capital (Number of Redeemable Preference Shares) is as under: Paid-up capital / total issue (before cancellation) 54,147,398 Less: Number of securities cancelled 514,593 ---------- Paid-up capital / total issue (after cancellation) 53,632,805 3. All relevant formalities have been duly complied with and Ordinary Shares have been issued in lieu of cancellation of the Redeemable Preference Shares and 578,264 shares have been recorded in the name of the CDC while 25,156 shares have been issued in physical form. Accordingly, the pre and post factual position of paid-up capital (Number of Ordinary Shares) due to conversion is as follows: Paid-up capital (before conversion) 526,109,509 Add: Number of securities (issued in Lieu of conversion) 603,420 ----------- Paid-up capital (after conversion) 526,712,929 4. The Company has completed all required regulatory formalities with respect to cancellation and conversion of the securities. For more information, contact: Muhammad Ashraf Company Secretary Maple Leaf Cement Factory Limited 42-Lawrence Road, Lahore (Pakistan) Tel: +9242 36278904-5 Fax: +9242 36363184 E-mail: www.mlcfl@kmlg.com

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Launching ceremony of Education in Pakistan: Developmental Milestones at Punjab University


Lahore: The launching ceremony of book titled “Education in Pakistan: Developmental Milestones” by Prof Dr Hafiz Muhammad Iqbal, will be held on Thursday, June 02, 2011 at 10:30a.m. in the Punjab University ‘s Institute of Education and Research (IER). Provincial Education Minister Mian Mujtaba Shuja-ur-Rehman will be the chief guest while PU Vice-Chancellor Prof Dr Mujahid Kamran will preside over the ceremony. The book has been published by the Paramount Publishing Enterprise Karachi. For more information, contact: Registrar Punjab University [...]

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Annual sports of Punjab University boys hostel No. 4 starts


Lahore: Three-day annual sports of Punjab University Hostel No. 4 started here at New Campus. Registrar Prof Dr Muhammad Akhtar was the chief guest of inaugural ceremony while renowned religious scholar Allama Abdul Jabbar, Chairman Physics Department Prof Dr Shaukat Ali and wardens and superintendents of various hostels were also present on the occasion. Addressing the ceremony, Dr Muhammad Akhtar said sports were the positive and healthy activities and a way of feelings. He said the sports also played an [...]

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Violence against Women


Islamabad: Participants at a consultative meeting urged the need to mobilize communities to prevent violence against women (VAW). They observe that it is the community that often excludes women and perpetrates crimes against women through rigid traditional practices or social pressures and the best way to tackle this, is by creating community ownership through a community development mode. Ms. Mome Saleem, Research Associates SDPI, Justice (r) Fakhar-un-Nisa Khokhar, MNA PPP, Ms Fouzia Ejaz, MNA MQM, Ms Nasreen Azhar, Member National [...]

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United Bank Limited’s Notice of Extraordinary General Meeting

Karachi: Notice is hereby given that an Extraordinary General Meeting of the Shareholders of United Bank Limited (the “Bank” or “UBL”) will be held on Friday, 24 June 2011 at 11:00 a.m. at Islamabad Serena Hotel, Islamabad to transact the following business: Ordinary Business: 1. To confirm the minutes of the 52nd Annual General Meeting of the Shareholders of UBL held on 29 March 2011, Special Business: 2. To approve Investment of USD 6 million in addition to the already approved amount of USD 8 million bringing the total to USD 14 million in the proposed subsidiary of UBL to be incorporated In Tanzania subject to the prior approval of State Bank of Pakistan and other relevant authorities. That the following Resolutions be passed as a special resolution as required by Section 208 of the Companies Ordinance, 1984, with or without modification: “Resolved that the proposal of equity injection of USD 6 million in addition to the already approved amount of USD 8 million bringing the total to USD 14 million in the proposed subsidiary of UBL to be established in Tanzania, in order to adequately meet the requirement of Bank of Tanzania for both Initial capital and projected start up losses, be and is hereby approved, subject to all applicable regulatory approvals including the prior approval of the State Bank of Pakistan as well as the approval of Economic Co-ordination Committee of Government of Pakistan and compliance of all relevant formalities.” 3. To transact any other business with the permission of the Chairman. Notes: 1. The Share Transfer Books of the Bank shall remain closed from 17 June 2011 to 24 June 2011 (both days inclusive). 2. A member entitled to attend and vote at the above Extraordinary General Meeting is entitled to appoint another member as a proxy to attend and vote on his/her behalf, save that a corporation being a member may appoint as its proxy an officer of such corporation whether a member of the company or not. The instrument appointing a proxy and the power of attorney or other authority (if any) under which it is signed or a notarially certified copy of the power or authority shall be deposited at the offices of M/s. THK Associates (Pvt.) Limited, Ground Floor, State life Building No.3, Dr. Ziauddin Ahmed Road, Karachi, the Registrar and Share Transfer Agent of the Bank not later than 48 hours before the time of holding the meeting, and must be duly stamped, signed and witnessed. 3. The CDC Account Holders and Sub-account Holders, whose registration details are available in the Share Book Details Report shall be required to produce their respective original Computerized National Identity Card (CNIC) or original Passport at the time to attending the Extraordinary General Meeting to facilitate Identification. Such Account Holders and Sub-Account Holders should also bring / know their respective participation I.D. No. and the CDC Account No. In case of proxy, he/she must enclose an attested copy of his/her CNIC or Passport, Representative(s) of corporate member(s) should bring usual documents required for such purpose. 4. Members are requested to timely notify any change in their addresses to Bank's Registrar / Share Transfer Agent M/s, THK Associates (Pvt.) Limited, Ground Floor, State Life building No. 3, Dr. Ziauddin Ahmed Road, Karachi. STATEMENT OF MATERIAL FACTS UNDER SECTION 160(1) (B) or THE COMPANIES ORDINANCE, 1984 ITEM NO.2: EQUITV INVESTMENTS IN TANZANIA: When opening of a subsidiary in Tanzania was initially being considered by the Bank, the minimum capital requirement was TSH 5 billion (USD 3.33 million). This was scheduled to increase to TSH 15 billion (USD 10 million) from 2012, We have been informed that in the recent past Bank of Tanzania (BoT) has rejected two applications on the basis of non-compliance with new capital requirement i.e. TSH 15 billion (USD 10 million). We also have to maintain some additional capital to meet projected start up losses as this is likely to result in a favorable review by the BoT. The approval is being sought to increase capital injection by USD 6 million, in addition to the already approved amount of USD 8 million, in order to bring the total to USD 14 million to adequately meet the BoT requirements for both initial capital and projected start up losses, which are expected to be up to USD 4 million over the first two years. The shareholders are requested to approve the equity investment of USD 6 million in addition to the already approved amount of USD 8 million bringing the total to USD 14 million in the proposed subsidiary of UBL to be incorporated in Tanzania. The subsidiary will be a wholly owned subsidiary of the Bank for which all applicable regulatory approvals including the prior approval of the State Bank of Pakistan will be sought. The minimum number of directors required for banking operations is 5. The Board of Directors of UBL has nominated President and CEO of UBL, Head of International of UBL and Chief Financial Officer of UBL as directors of the proposed subsidiary of UBL In Tanzania whereas the President and CEO of UBL will be the Chairman thereof. The Board also authorized the President and CEO of UBL to nominate other two directors from Tanzania. 1) Name of Company United Bank Tanzania (proposed) 2) Nature of Investment Amount and Extent of Investment 100% Equity investment of up to US$6 million in addition to already approved amount of us$8 million by the Bank 3) Average Market Price of Share. N/A - Subsidiary yet to be established 4)   Break-Up value of shares intended to be Purchased on the basis of last published Financial statement. N/A 5) Price at which shares will be purchase N/A 6) Earning per share of investee Company in last three years. N/A 7) Source of Funds from where shares will Be purchased Own sources of the Bank 8) Period for which investment will be made A wholly owned subsidiary of the Bank 9) Purpose of investment To setup wholly owned subsidiary to start banking operations in Tanzania 10) Benefits likely to accrue to the company and the share holders from the proposed International expansion and business growth. 11) Interest of directors and their relatives in the investee company. The President and CEO being deemed Director of UBL has been nominated as the Chairman of the Board of Directors of the proposed subsidiary and is to that extent interested. For more information, contact: Aqeel Ahmed Nasir Company Secretary Chief Legal Counsel United Bank Limited State Life Building # 1, I.I. Chundrigar Road, Karachi-Pakistan UAN: +9221 111-825-888, Web: www.ubl.com.pk

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Abdullah Shah Ghazi Sugar Mills Limited’s Financial Results for the Period Ended March 31, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on May 31, 2011 at 04:00 pm, at its registered office of company recommended the following: 1. Cash Dividend Nil And /Or 2. Bonus Shares Nil And /Or 3. Right Shares Nil And /Or 4. Any Other Entitlement/Corporate Action Nil And /Or 5. Any Other Price-Sensitive Information Not Applicable The Financial Results of Company are as Follows: 6 Months 3 Months Oct 2011 to Mar 2011 Oct 2009 to Mar 2010 Jan 2011 to Mar 2011 Jan 2009 to Mar 2010 Rupees Sales - Net 1,032,539,617 628,356,794 667,629,446 367,096,418 Cost of sales 844,563,587 553,925,543 635,108,762 344,036,468 ------------- ------------- ------------- ------------- Gross profit 187,976,030 74,431,251 32,520.684 23,059,950 Operating Expenses Administrative and general expenses 15,006,860 13,251,863 9,602,541 6,432,570 Distribution expenses 895,494 819,375 786,789 711,902 ------------- ------------- ------------- ------------- 15,902,354 14,071,238 10,389,330 7,144,472 ------------- ------------- ------------- ------------- Operating Profit 172,073,676 60,360,013 22,131,354 15,915,478 Finance cost 54,361,420 28,366,757 36,283,782 24,026,047 Workers' profit participation fund 5,942,725 1,618,628 (650,509) - Workers' welfare fund 2,377,090 632,279 (260,204) - ------------- ------------- ------------- ------------- 62,681,235 30,617,664 35,373,069 24,026,047 ------------- ------------- ------------- ------------- Profit/ (loss) for the period 109,392,441 29,742,349 (13,241,715) (8,110,569) Other income 1,142,249 379,310 1,142,249 379,310 ------------- ------------- ------------- ------------- Profit/ (1oss) before taxation 110,534,690 30,121,659 (12,099,466) (7,731,259) Provision for taxation Current (10,325,396) (3,141,784) (6,676,294) (1,835,482) Deferred (4,129,283) 1,027,814 (4,643,216) 513,907 ------------- ------------- ------------- ------------- (14,454,679) (2,113,970) (11,319,510) (1,321,575) ------------- ------------- ------------- ------------- Profit / (loss) after taxation 96,080,011 28,007,689 (23,418,976) (9,052,834) ------------- ------------- ------------- ------------- Earnings / (loss) per share - Basic and diluted 1.21 0.35 (0.30) (0.11) For more information, contact: Company Secretary Abdullah Shah Ghazi Sugar Mills Limited 65 - Infantry Road Lahore. Tel: +9242 36834016-22 Fax: +9242 36811253 Email: info@maccagroup.com

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