Karachi, June 07, 2013 (PPI-OT):
Meezan Balanced Fund (“MBF”)
Conversion of MBF into an Open-End Scheme
Notice of Book Closure for Determining the Entitlement Units of MBF as Open End Scheme
Suspension of Trading of Certificates of MBF as Closed End Fund at Karachi Stock Exchange
Appointment of Registrar/ Transfer Agent of MBF
The Certificate Holders of the Meezan Balanced Fund (“MBF”) are hereby informed as under:
1. The Register of Members (Certificate Holders) of MBF shall be closed from June 17, 2013 for determining the entitlement of the Certificate Holders to the Initial Units of the Open End Scheme (after conversion) in lieu of the Certificates of the Closed End Fund on the basis of swap ratio of 1:1 i.e. each Certificate Holder of MBF whose name appears in the Register of Members on the Book Closure Date shall be issued one fully paid-up Unit of the Open End Scheme of the par value of Rs. 10/- each with no Front-end Load as Initial Units in lieu of the Certificates of the Closed End Fund.
2. The trading of the Certificates of MBF at the Karachi Stock Exchange shall be suspended from June 17,2013 i.e. the last day of trading of these Certificates will be June 14, 2013.
3. July 1, 2013 shall be the “Effective Date” of the conversion of MBF from a Closed End Fund into an Open End Scheme, which shall become effective from that date.
4. From the Effective Date, the status of all existing Certificate Holders of MBF, whose names appear in the Register of Members on the Book Closure Date shall automatically stand changed to the Initial Unit holders of the Open End Scheme.
5. From the Effective Date, THK Associates (Private) Limited will cease to be the Registrar/ Transfer Agent of MBF as a Closed End Fund and Meezan Bank Limited, will be appointed as the Registrar/ Transfer Agent of MBF, as an Open End Scheme.
6. In order to determine the entitlement of distribution of profit to the Certificate Holders of MBF, as a Closed End Fund, if any for the year ending June 30, 2013, the Unit Holder Register of MBF, as an Open End Scheme shall remain closed from July 1, 2013 to July 8, 2013 (both days inclusive). The transaction in the Units of the MBF, as an Open End Scheme shall commence from July 9, 2013.
For more information, contact:
Syed Owais Wasti
Al Meezan Investment Management Limited
Ground Floor, Block ‘B’.
Finance & Trade Centre,
Shahrah-e-Faisal, Karachi 74400, Pakistan,
UAN: 111-633-926 (111-MEEZAN)
Fax: (92-21) 3567 6143
Web Site: www.almeezangroup.com