Karachi, May 16, 2013 (PPI-OT): This is in continuation of our two letters, one no. AAML/12-13/Co.Sec./114/2216 dated January 31, 2013 regarding the decision of the certificate holders to revoke the ATFF and second no. AAML/12-13/Co. Sec./476/3164 dated May 6, 2013 enclosing Securities and Exchange Commission of Pakistan (SECP) letter no. SCD/AMCW/ATFF/519/2013 dated May 3, 2013 approving the revocation of ATFF and process for payment to certificate holders.
We also refer to our letter no. AAML/12-13/Co. Sec./114/3205 dated May 9, 2013, informing your office of the upcoming meeting of the Board of Directors of Atlas Asset Management Limited (AAML), the Management Company of ATFF on May 16, 2013 to consider SECP letter and take appropriate action to comply with the directives.
We have to inform you that the Board of Directors held their meeting held today approved the following:
1. The process of revocation of the ATFF in line with the directions specified by the SECP, and
2. The de-listing of the certificates of the ATFF effective from May 23, 2013, i.e. the date on which the notice regarding process of revocation and payment of revocation proceeds is to be issued to the certificate holders. Reference is made to condition no. 4(a) of the SECP’s approval letter dated May 3, 2013.
Decision in respect of payment to certificate holders under clause 25.2 of the Trust Deed to ATFF will be taken in the next meeting of the Board of Directors, after the preparation of financial statements of the ATFF for the year ending on June 30, 2013. We shall, however, complete the process of payment to certificate holders in accordance with SECP directives as contained in their letter dated May 3, 2013 on or before July 31, 2013.
In the light of Regulation 30(1)(c) of the KSE listing regulations, we, hereby apply for the de-listing of the certificates of Atlas Fund of Funds with effect from May 23, 2013 as directed by the SECP.
We are intimating our certificate holders. You may please inform members of the Exchange accordingly.
Please let us know, if you require any further formalities or clarification in connection with the de-listing.
For more information, contact:
M. Habib-ur-Rahman
Chief Executive Officer
Atlas Asset Management Limited
Ground Floor, Federation House,
Shahrah-e-Firdausi, Clifton,
Karachi- 75600, Pakistan.
Ph: (92-21) 35379501- 04
Fax: (92-21) 35379280
UAN: 111- MUTUAL (6-888-25)
Website: www.atlasfunds.com.pk