Karachi, December 13, 2016 (PPI-OT): DAILY STOCK MARKET REPORT Market Position Printed On DEC-13-2016 COMPANIES KSE KSE-30 ...

Karachi, Pakistan International Airline Corporation Limited informed Pakistan Stock Exchange that Mr. Muhammad Azam Saigol chairman of the company has resigned and ceased to be the Director as well as Chairman of the Company with effect from December 12, 2016. Pakistan International Airlines Corporation (PIAC) has been converted via Pakistan International Airlines Corporation (Conversion) Act, 2016 (Act No. XV of 2016), dated 19 April 2016 from a statutory corporation to a company governed by the Companies Ordinance, 1984. The new entity is called Pakistan International Airlines Corporation Limited (PIACL). Through the PIAC (Conversion) Act, 2016, PIACL has succeeded to all the assets, liabilities, duties and obligations of PIAC. Similarly, PIACL is now entitled to the benefits of all notifications, licenses, permissions, sanctions, authorizations, concessions, decrees, international air service authorizations, agreements, orders and benefits issued or granted in favour of PIAC. All employees of every grade and category of PIAC is hereby assured that they stand transferred by the PIAC (Conversion) Act, 2016 to PIACL with the same designation and on the same terms and conditions as they held in PIAC. All lenders (foreign and local, fleet and non-fleet) and other creditors of PIAC shall continue to enjoy from PIACL, the same contractual benefits and protections that they enjoyed from PIAC. All guarantees given by the Federal Government to secure PIAC’s obligations will now continue so as to secure the obligations of PIACL. The shareholders of PIACL shall be deemed without any fresh issuance of shares to own and hold the same number of shares with the same rights and privileges (including as to class, kind, and face value) as they owned and held in PIAC immediately prior to the conversion. All proceedings of every description and nature whatsoever by or against or relating to PIAC pending on the date of Conversion, in any court, tribunal, or other authority shall be continued, defended, prosecuted and enforced by or against or relating to PIACL in the same manner and to the same extent as they would have been continued, defended, prosecuted and enforced by or against or relating to PIAC, and the same shall not abate, be discontinued, prejudiced or otherwise affected by the conversion.

Karachi, Pakistan International Airline Corporation Limited informed Pakistan Stock Exchange that the Company’s ATR-42 Aircraft operating as flight no PK- 661 from Chitral to Islamabad has crashed near Havelian Tehsil Abbotabad on December 07, 2016. All 42 passengers Male 31 female 09 Infant 02 including 02 Austrians and 01 Chinese anf 05 Crew members onboard died in this incident. Pakistan International Airlines Corporation (PIAC) has been converted via Pakistan International Airlines Corporation (Conversion) Act, 2016 (Act No. XV of 2016), dated 19 April 2016 from a statutory corporation to a company governed by the Companies Ordinance, 1984. The new entity is called Pakistan International Airlines Corporation Limited (PIACL). Through the PIAC (Conversion) Act, 2016, PIACL has succeeded to all the assets, liabilities, duties and obligations of PIAC. Similarly, PIACL is now entitled to the benefits of all notifications, licenses, permissions, sanctions, authorizations, concessions, decrees, international air service authorizations, agreements, orders and benefits issued or granted in favour of PIAC. All employees of every grade and category of PIAC is hereby assured that they stand transferred by the PIAC (Conversion) Act, 2016 to PIACL with the same designation and on the same terms and conditions as they held in PIAC. All lenders (foreign and local, fleet and non-fleet) and other creditors of PIAC shall continue to enjoy from PIACL, the same contractual benefits and protections that they enjoyed from PIAC. All guarantees given by the Federal Government to secure PIAC’s obligations will now continue so as to secure the obligations of PIACL. The shareholders of PIACL shall be deemed without any fresh issuance of shares to own and hold the same number of shares with the same rights and privileges (including as to class, kind, and face value) as they owned and held in PIAC immediately prior to the conversion. All proceedings of every description and nature whatsoever by or against or relating to PIAC pending on the date of Conversion, in any court, tribunal, or other authority shall be continued, defended, prosecuted and enforced by or against or relating to PIACL in the same manner and to the same extent as they would have been continued, defended, prosecuted and enforced by or against or relating to PIAC, and the same shall not abate, be discontinued, prejudiced or otherwise affected by the conversion.

Karachi, Packages Limited informed Pakistan Stock Exchange that they have incorporated Packages Power Private Limited as a wholly owned subsidiary of the Company for the purpose of setting up a 3.1 MW hydropower project as advertised by the Punjab Power Development Board accordingly an initial Equity injection of Rs. 25 million divided into 2.5 million shares of Rs. 10 each has been made the Company in to Packages Power Private Limited today. Packages Limited is a public limited company incorporated in Pakistan. The company is principally engaged in the manufacture and sale of paper, paperboard, packaging materials and tissue products. The stocks of the company are quoted on the Karachi Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi. On September 17, 2012 the company has entered into a 50/50 joint venture with the ‘Stora Enso OYJ Group’ of Finland in its 100% wholly owned subsidiary Bulleh Shah Packaging Private Limited. The Joint Venture will include Paper & Paperboard and Corrugated business operations at Kasur and Karachi and will involve initial equity participation of Stora Enso of 35% by way of subscription of right shares with a commitment to increase the shareholding to 50% at a later stage subject to certain conditions being met. The company also decided to close down its Paper and Paperboard operations in Lahore which has divided the business into continuing and discontinued operations. The symbol “PKGS” is being used by the stock exchanges for the shares of Packages Limited.

Karachi, Golden Arrow Selected Stocks Fund Limited informed Pakistan Stock Exchange that the dividend warrants in respect of interim dividend @ Rs. 1.10 per share, i.e. 22% for the year ended June 30, 2017 have been dispatched by registered post or through courier service on December 09, 2016. Golden Arrow Selected Stock Fund is a company incorporated in Pakistan as a public limited company on May 9, 1983. The foundations of the company are laid under the postulates of the Companies Ordinance, 1984. The company got registered as an investment company on April 29, 2005 under the Non Banking Finance Companies Rules, 2003. The company is a closed-end mutual fund and its principal activity is to make investment in marketable securities. The company is being managed by AKD investment Management Limited and Central Depository Company of Pakistan Limited is the custodian of the company. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the Company is situated at Karachi. The symbol “GASF” is being used by the stock exchange for the shares of Golden Arrow Selected Stock Fund.

Karachi, Ghandhara Industries Limited informed Pakistan Stock Exchange that the dividend warrants in respect of final dividend @ Rs. 10 per share, i.e. 100% for the year ended June 30, 2016 have been dispatched by registered post or through courier service on November 30, 2016. Ghandhara Industries Limited is a company incorporated in Pakistan as a public limited company on February 23, 1963. The foundations of the company are laid under the postulates of the Companies Ordinance, 1984. The principal activity of the company is assembly and progressive manufacturing of Isuzu Trucks and Buses. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the Company is situated at Karachi. The symbol “GHNI” is being used by the stock exchange for the shares of Ghandhara Industries Limited.

Karachi, Fauji Fertilizer Company Limited informed Pakistan Stock Exchange about appointment of Mr. Ashfaq Ahmed as Company Secretary of the company in place of Mr. Sher Shah with effect from December 06, 2016. Fauji Fertilizer Company Limited is a public company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is manufacturing, purchasing and marketing of fertilizers and chemicals, including investment in other fertilizer, chemical, other manufacturing, and energy generation and banking operations. The shares of the company are quoted on the Karachi, Lahore and Islamabad stock exchanges of Pakistan. The registered office of the company is situated at Rawalpindi and it is domiciled there. Associated companies of the group are FFC Energy Limited, Fauji Fertilizer Bin Qasim Limited, Askari Bank Limited and Al-Hamd Foods Limited. The symbol “FFC” is being used by the stock exchanges for the shares of Fauji Fertilizer Company Limited.