Karachi, September 7, 2012 (PPI-OT): As required by rule 6 of the Companies (Issue of Capital) Rules, 1996, we are please to inform you that the Board of Directors of Ferozsons Laboratories Limited (FEROZ) in their Meeting held on September 06, 2012 have recommended the issuance of 5% bonus shares i.e. 1 shares for every 20 shares held.
Issuance of Bonus Shares
Please refer to your requested, informing us of Company’s decision to issue bonus shares in the proportion of 5 ordinary shares for every hundred shares held i.e. 5%.
In response to foregoing, we confirm that the free reserves and surplus retained after the issue of the bonus shares are not less than 25% of the Increased capital of the Company as required by the Companies (Issue of Capital) Rules, 1996, rule 6 (iii), circulated vide SRO 110 (I)/ 96 dated 08 February 1996. The free reserves have been determined on the basis of the audited financial statements for the year ended 30 June 2012.
For more Information, contact:
Syed Ghausuddin Saif
Company Secretary
Ferozsons Laboratories Limited
5-KM Sunder Raiwind Road
Raiwind Lahore- Pakistan
Office Ph: +92-42-32104001-3
Fax: +92-42-32104004
Email: info@ferozsons-labs.com