Atlas Insurance Limited’s Certified Copy of Resolutions

Karachi: Pursuant to Listing Regulation No 18 (2) of the Exchange, we are enclosing certified copies of the resolutions adopted by the Shareholders of the Company in the Annual General Meeting held on April 10, 2012.

1. Confirmation of the Minutes

“that the minutes of the Annual General Meeting held on March 31, 2011, be and are hereby confirmed.”

2. To receive, consider and adopt the audited financial statements for the year ended December 31, 2011 together with directors’ and auditors’ reports thereon.

3. To approve cash dividend

“that the recommendation of the directors for cash dividend @ 40% be and is hereby approved.”

4. Election of directors

“that the gentlemen namely Mr. Yusuf H. Shirazi, Mr. Azam Faruque, Mr. Isphanyar M. Bhandara, Mr. Ali H. Shirazi, Mr. Jawaid lqbal Ahmed, Mr. Frahim Ali Khan and Mr. Arshad P. Rana be and are hereby elected as Directors of the Company for a term of three years commencing from 11-04-2012″.

5. Appointment of Auditors

“that M/s. Ernst and Young Ford Rhodes Sidat Hyder, Chartered Accountants, be and are hereby appointed as auditors of the company for the year ending December 31, 2012, at the remuneration fixed by the Board of Directors.”

6. To approve bonus shares

a) “that a sum of Rs. 88,587,600 of Company’s profit be capitalized for Issuing 8,858,760 fully paid ordinary shares of Rs. 10 each as bonus shares to be allotted to those shareholders whose names stand in the register of members at the close of the business on April 3, 2012 in the proportion of two bonus shares for every ten shares held by a member. The said shares shall rank pari passu with the existing shares of the Company as regards future dividend and in all other respects.”

b) “that all the fractional bonus shares shall be combined and the Directors be and are hereby authorized to combine and sell the fractional shares in the stock market and pay the proceeds of sales thereof when realized to a charitable situation approved under the income Tax Ordinance, 2001.”

7. To approve increase in authorized Capital and remuneration of the Chief Executive Officer.

a) “the authorized share capital of the Company be and is hereby increased to Rs. 800,000,000 (Rupees eight hundred million only) divided into 50,000,000 (Eighty million) shares of RS.10 (Rupees ten only) each.

That Clause V of the Memorandum of the Association of the Company be and is hereby amended to be read as follows:

b) “the share capital of the Company is Rs. 800,000,000 (Rupees eight hundred million only) divided into 80,000,000 (Eighty million) ordinary shares of Rs. 10 (Rupees ten only) each, with powers to increase or reduce the capital, to divide the shares of the capital into several classes and to attach thereto respectively such ordinary or preferential rights and privileges. conditions or restrictions in such manner as may from time to time, be provided by the regulations of the Company.”

That the article of the Association of the Company be and is hereby amended to be read as follows:

c) “the share capital of the Company is Rs. 800,000,000 (Rupees eight hundred million only) divided into 80,000,000 (Eighty million) ordinary shares of Rs. 10 (Rupees ten only) each, with powers to increase or reduce the capital, to divide the shares of the capital into several classes and to attach thereto respectively such ordinary or preferential rights and privileges conditions or restrictions in Such manner as may from time to time, be provided by the regulations of the Company.”

d) “that the Chief Executive Officer of the Company be and is hereby authorized to complete all such legal formalities to give effect to the aforesaid Resolution (s) on behalf of the Company. In case of any change / alternation is pointed out by the Securities and Exchange Commission of Pakistan and any other competent authority in the aforesaid Resolution (s), the Chief Executive Officer be and is hereby authorized to make necessary modifications / corrections.”

e) “that the remuneration of the Chief Executive Officer of the Company, as fixed by the Board, for the financial year ending December 31, 2012, be and is hereby approved.”

For more information, contact:
Atlas Insurance Limited
3-Bank Square,
Shahrah-Quaid-e-Azam,
Lahore – 5400, Pakistan
Ph: +92 (42) 3732 0542- 3
Fax: +92 (42) 3732 4742
E-mail: info@atlasinsurance.com.pk
Website: www.atlasinsurance.com.pk

The Karachi Stock Exchange (Guarantee) Limited’s Notice of Intention to Suspend CDS Eligibility of Ordinary Shares of Baba Farid Sugar Mills Limited under the CDC Regulations

Karachi: In view of non-submission of R/TA Reconciliation Reports by our company for financial year ended September 30, 2011, despite our follow-ups and notice dated March 12, 2012 under Regulation 13.7.1 of the CDC Regulations allowing further 3 Business Days to comply with the said notices, an amount of Rs. 10,000 each was imposed on your company as fine where an invoice was raised in this regard.

As your company is continuously in defaults of the said regulatory requirement, this failure on part of your company is construed as contravention of the contravention of CDC Regulations, thus giving rise to Regulation 5.3.1 of the Regulations, which authorizes CDC to take action including suspension of CDS Eligibility of Securities of the Issuer in respect of which non-compliance has occurred.

You are therefore notified under Regulation 5.3.2 of the CDC Regulations that consequent to failure by your company to comply with Regulation 13.7.1 of the CDC Regulations with respect to submission of R/TA Reconciliation report for the period ending September 30, 2011 truly certified by your external auditor relating to the Ordinary Shares (Security Symbols: BAFS) of your company (the “said Securities”), CDC intends to suspend the CDS Eligibility of the said Securities with effected from April 24, 2012.

In view of the above, you are hereby advised to comply with Regulation 13.7.1 of the Regulations by submitting the R/TA Reconciliation Reports correct as of September 30, 2011 duly certified by your external auditor along with payment of fine of Rs. 10,000/- without further delay but not later than April 23, 2012 to avoid suspension of CDS Eligibility of the said Securities as aforesaid.

As required by the said Regulation 5.3.2 of the CDC Regulations, a copy of this notice is being sent to the Stock Exchanges where the said Securities are listed.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

The Karachi Stock Exchange (Guarantee) Limited’s Notice of Suspension CDS Eligibility of Ordinary Shares of Fawad Textile Mills Limited under the CDC Regulations

Karachi: In view of non-submission of R/TA Reconciliation Report by Fawad Textile Mills Limited (hereinafter referred to as the “Issuer”) for half-year ended December 31, 2011, despite our follow-ups and notice dated March 08, 2012 under Regulation 13.7.1 of the CDC Regulations allowing further 3 Business Days to comply with the said notices, fine was imposed on the Issuer where an invoice was raised in this regard.

As the Issuer is continuously in defaults of the said regulatory requirement, this failure on its part is construed contravention of the CDC Regulations, thus giving rise to Regulation 5.3.1 of the CDC Regulations, which authorizes CDC to take action including suspension of CDS Eligibility of Securities of the Issuer in respect of which non-compliance or contravention has occurred.

In view of the above, CDC decided to suspend the CDS Eligibility of Ordinary Shares (Securities Symbol: FTM) of the Issuer with immediate effect.

Please note that this suspension is in addition to the suspension imposed pursuant to our notice dated March 19, 2012 and February 16, 2012 respectively. The suspension shall remain in force till such time the cause of all the suspensions are removed by the Issuer in every respect.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

The Karachi Stock Exchange (Guarantee) Limited’s Notice of Intention to Suspend CDS Eligibility of Ordinary Shares of S.G. Fibre Limited under the CDC Regulations

Karachi: In view of non-submission of R/TA Reconciliation Reports by our company for financial year ended June 30, 2011 and half year ended December 31, 2011 respectively, despite our follow-ups and notice dated March 8, 2012 under Regulation 13.7.1 of the CDC Regulations allowing further 3 Business Days to comply with the said notices, an amount of Rs. 10,000 each were imposed on your company as fine where raised in this regard.

As your company is continuously in defaults of the said regulatory requirement, this failure on part of your company is construed as contravention of the contravention of CDC Regulations, thus giving rise to Regulation 5.3.1 of the Regulations, which authorizes CDC to take action including suspension of CDS Eligibility of Securities of the Issuer in respect of which non-compliance has occurred.

You are therefore notified under Regulation 5.3.2 of the CDC Regulations that consequent to failure by your company to comply with Regulation 13.7.1 of the CDC Regulations with respect to submission of R/TA Reconciliation report for the period ending June 30, 2011 relating to the Ordinary Shares (Security Symbols SGFL) of your company (the “said Securities”), CDC intends to suspend the CDS Eligibility of the said Securities with effected from April 24, 2012.

In view of the above, you are hereby advised to comply with Regulation 13.7.1 of the Regulations by submitting the R/TA Reconciliation Reports correct as of June 30, 2011 duly certified by your external auditor and half-year ended December 31, 2011 along with payment of fine of Rs. 20,000/- without further delay but not later than April 23, 2012 to avoid suspension of CDS Eligibility of the said Securities as aforesaid.

As required by the said Regulation 5.3.2 of the CDC Regulations, a copy of this notice is being sent to the Stock Exchanges where the said Securities are listed.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

Engro Polymer and Chemical Limited’s EPCL Board Meeting

Karachi: This is to advise you that a meeting of the Board of Directors of Engro Polymer and Chemical Limited (EPCL) is scheduled to be held on April 20, 2012 at 9.30 a.m. at registered office, First Floor Bahria Complex No.1 M.T. Khan Road Karachi, to consider the accounts for the First Quarter ended March 31, 2012.

The Company has declared a closed period from Friday, April 13, 2012, to Friday, April 20, 2012 (both days inclusive) as the accounts for the First Quarter ended March 31, 2012 of the Company will be reviewed by the Board on April 20, 2012. No Director, CEO or Executive of the Company shall deal in the Company shares, directly or indirectly, during this period.

For more information, contact:
Saleem Lallany
Company Secretary
Engro Polymer and Chemical Limited
First Floor, Bahria Complex I,
24 M. T. Khan Road, Karachi 74000
UAN: 111 411 411
PABX: 35610610
Fax: +92-21-35611690

UBL Fund Manager Limited’s Board of Directors Meeting of UBL Fund Managers Limited

Karachi: This is to inform you that a meeting of the Board of Directors (the Board) of the UBL Fund Manager Limited (UBLFUND) (the Management Company) will be held on Thursday, April 19, 2012 at 03:00 p.m. at UBL Head Office, 8th Floor, Slate Life Building No.1, Karachi, to consider the financial statements of United Growth and Income Fund (UGIF) and United Stock Advantage Fund (USF) for the period ended March 31, 2012.

The Management Company has declared April 13 to 19, 2012 as the “Closed Period” as required under Clause (xxvi) of the Code of Corporate Governance contained in the Listing Regulation No. 35 of the Exchange. Accordingly, no Director, CEO or Executive shall, directly / indirectly, deal in the units of the above mentioned funds in any manner during the Closed Period.

For more information, contact:
Muhammad Imran Khalil
Chief Financial Officer and
Company Secretary
UBL Fund Manager Limited
Corporate Office
8th Floor, Executive Tower,
Dolmen City Building, Block 4,
Clifton, Karachi, Pakistan,
Tel: (+92-21) 35290080
Fax: (+92-21) 35290070
Email: info@UBLFunds.com
Website: www.UBLFunds.com

Benazir Income Support Programme performing moral task of improving the lives of poor

Islamabad: Benazir Income Support Programme (BISP) is an unprecedented initiative designed to curb poverty and its performing moral task of improving the lives of poor segments of society. These were the thoughts expressed by high level Chinese delegation during a meeting with Madame Farzana Raja, Chairperson BISP Thursday.

The delegation, led by Mr. Chen Jianguo, Vice Chairman of Committee for Interior and Legal Affairs, visited BISP Secretariat. Mr. Jianguo on the occasion said that the poverty is a common issue of developing countries and such countries including China can benefit from the experiences of BISP in this regard. He lauded the Health Insurance Initiative of BISP and said that a similar programme has been initiated in China as well.

Earlier, Chairperson BISP, Madame Farzana Raja briefed the members of delegation about the working of BISP. She informed the delegation that as a result of data collected by nationwide poverty survey, more than 6 million beneficiary families are now benefiting from various initiatives of BISP.

Madame Farzana Raja said that the transparency is the ultimate standard of BISP in all its operations. She informed the delegation that besides monthly cash grant, BISP has introduced Waseela-e-Haq, Waseela-e-Rozgar and life insurance schemes which are contributing significantly in the cause of poverty alleviation.

She added further that health insurance scheme also being launched in this month whereas BISP is all set to start pilot phase of its Waseela e Taleem initiative under which it is envisaged to provide education facilities to almost 3 million non-school going children from the beneficiary families.

Chairperson BISP said that Paki-China friendship is extended over generations and they would continue cooperation regarding poverty alleviation as well as other endeavours in the social sector.

She thanked the government and people of the People’s Republic of China and informed the delegation that first batch of underprivileged youth has recently completed its vocational training in collaboration with China Foundation for Peace and development (CFPD). She also informed that various projects are under consideration with the collaboration of China Cultural Heritage Foundation.

For more information, contact:
Shafquat Ali
Assistant Media Officer.
Benazir Income Support Programme (BISP) – Sindh
Cell: +92333 239 4466
Tel: 021-99251510