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Karachi, September 25, 2012 (PPI-OT): We are enclosing herewith the Notice received from IGI Insurance Limited, 7th floor, The Forum, Block 9, Clifton, Karachi of their intention to acquire control voting shares of our Company.
This notice is being given to you in compliance of Reg. 5 (1) (a) of the Listed Company (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2008 and Reg. 35 of the KSE Listing Regulations read with Clause (xx) of the Code of Corporate Governance.
On behalf of IGI Insurance Limited, United Bank Limited as Manager to the Offer is pleased to submit a copy of the public announcement of intention to purchase voting shares prepared in accordance with the Regulation 6 (4) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2008.
Public Announcement of Intention to Acquire upto 90.9867% of Voting Shares or Control of American Life Insurance Company (Pakistan) Limited by IGI Insurance Limited under the Listed Companies (Substantial Acquisition of Voting Shares and Take-Overs) Ordinance, 2002.
(a) Names and Addresses of Acquirers:
IGI Insurance Limited,
7th Floor, The Forum,
Suite No. 701-713, Block-9,
Clifton, Karachi-75600,
Pakistan
(b) Names of Persons Acting in Concert with the Acquirer, If Any:
–
(b) Addresses of Persons Acting in Concert with the Acquirer, If Any:
–
(d) Name and Address of Financial Advisor (s) of the Acquirers:
A. F. Ferguson and Co.
Chartered Accountants
State Life Building No 1-C
I.I. Chundrigar Road, P.O. Box 4716
Karachi-74000, Pakistan
(e) Names at Chief Executive, Directors and Major Shareholders of the Acquirers:
IGI Insurance Limited,
Chief Executive: Jalees Ahmed Siddiqi
Directors: Syed Babar Ali (Chairman), Shamim Ahmed Khan, Syed Yawar Ali, Syed Shahid Ali, Syed Kamal Ali, Syed Hyder Ali, Waqar Ahmed Malik, Jalees Ahmed Siddiqi
Major Shareholders: Syed Babar Ali, Packages Limited, Industrial Technical and Educational Institute
Name: American Life Insurance Company (Pakistan) Limited
Floor 13 (Level 16), Dolmen City Mall, Stock 4, Clifton, Karachi-75600.
Directors: Arif Sultan Mufti (Chairman and Chief Executive), Michel Khalaf, Nurul Islam, Arif Abdul Aziz. Shahid Siddiqui, Khalid Anis-ur-Rehman, Qasim Rabbani
Major Shareholder; American Life Insurance Company
Total Number of Issued Shares of the Target Company: 50,000,000
Nil
Up to 90.9867% of the Ordinary Shares of the Company (representing approximately 45,493,345 Ordinary Shares of the Company)
For more information, contact:
Asif Sultan Mufti
Chief Executive
American Life Insurance Company (Pakistan) Limited
Floor 13, Dolmen Executive Tower
Marine Drive Block 4, Clifton
Karachi 75600
Tel: (9221) 3536-0040
UAN: (9221) 111-111-711
Fax: (9221) 3579-0042