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Karachi, August 29, 2012 (PPI-OT): 1. Please refer to our letter No. ABL-SHARES/4/5/2012 dated August 27, 2012 on the subject matter.
2. As desired, we are enclosing herewith following documents duly certified by the Company Secretary and affixed Company Rubber Stamp.
2.1. A copy of Free Reserve Certificate No.007/A-23/2012 dated August 27, 2012 issued by M/s. Hameed Chaudhri and Company for issue of 20% Bonus Shares for the year ended June 30, 2012.
2.2. Extract of Resolutions on Company’s Letter Head.
As requested by you, we have ascertained from the Company’s financial statements for the year ended June 30, 2012, which have been approved by the Board of Directors that the residual free reserves in terms of meaning given to “free reserves” in the Companies (issue of Capital) Rules, 1996 after incorporating the proposed issue of bonus shares of a face value of Rs. 24, 66 thousand would be higher than twenty five percent of the enhanced capital of Rs. 144,998 thousand.
Extract from the minutes of board of directors meeting held on august 27, 2012
Dividend
The Board of Directors has recommended a Cash Dividend @100% (P.s.10/- per share) and Stock Dividend @ 20% in the proportion of One ordinary share of Rs.10/- each for every Five ordinary shares held by a shareholder, for the year ended June 30, 2012 and passed the following resolutions:
Resolved
“That cash dividend at the rate of 100% (Rs.10/- per share) be and is hereby recommended for payment to those shareholders of the Company, whose names shall appear in the register of members at the close of business on September 13, 2012.”
Further Resolved
“That a sum of Rs. 24,166,350/- out of Company’s profit be capitalized for issuing 2,416,635 fully paid ordinary shares of Rs.10/- each as bonus shares to be allotted to those shareholders of the Company, whose names shall appear in the register of members at the close of business on September 13, 2012 @20% in the proportion of One ordinary share of Rs. 10/- each for every Five ordinary shares held by a shareholder. The said shares shall rank pari passu with the existing shares of the Company as regards future dividend and in all other respects.”
For more information, contact:
Rizwan Ahmed
Company Secretary
Atlas Battery Limited
D-181, Central Avenue,
S.I.T.E., Karachi-75730
Ph: (92-21) 32567990-4
Fax: (92-21) 32564703
Email: abl@atlasbattery.com.pk
Website: www.atlasbattery.com.pk