Karachi, July 04, 2013 (PPI-OT): Please refer to our letter No. GVGL/KSE/2013/25 dated June 28, 2013 on the captioned subject.
In compliance of clause 8 of “Procedure for Right Issue” provided in your letter No. KSE/C-288-1419 dated March 19, 2013, we hereby confirm that the unsubscribed shares have been allocated by the Board of Directors of Ghani Value Glass Limited (“GVGL”) vide their resolution passed through circulation and proceeds of PKR 2,250,260 have been deposited by the directors.
We also enclose herewith the Certificate issued by external auditors Ernest and Young Ford Rhodes Sidat Hyder, Chartered Accountants confirming the receipt of complete amount of PKR 113,025,000 by Habib Metropolitan Bank Ltd as on July 03, 2013.
You are, therefore, requested to issue a No Objection Certificate (“NOC”) in the name of Habib Metropolitan Bank Ltd for the release of subscription amount received in the bank account maintained for the purpose of Right Issue at your earliest.
Ernst and Young Ford Rhodes Sidat Hyder
Receipt of Proceeds against Issue of Right Shares
This has reference to the captioned subject. As desired, we have verified from the books of account and records of the Company that a sum of Rs. 113,025,000 has been received in the Company’s bank accounts towards proceeds against proposed Issue of right shares from the members, of the Company as of 03 July 2013.
We would inform you that the primary responsibility for providing us the financial information and its adequate disclosure is that of the management of the Company.
The letter s being issued on the specific request of the Company for submission to the Karachi and Lahore Stock Exchanges and is not to be used for any other purpose or to be distributed to any other parties. This letter relates only to the matters specified, above and do not extend to any financial statements of the Company, taken as a whole.
For more information, contact:
Hafiz Mohammad Imran Sabir
Company Secretary
Ghani Value Glass Limited
40-L, Model Town Ext,
Lahore-Pakistan
UAN: 111-949-949
Tel: +92-42-35174025
Fax: +92-42-35172263
E- mail: info@ghanivalueglass.com
Web: www.ghanivlaueglass.com