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Karachi, May 06, 2013 (PPI-OT): This announcement is made pursuant to Paragraph 35 (xx) of the Listing Regulations of the Karachi Stock Exchange.
It has come to the knowledge of the management of Javedan Corporation Limited (JVDC) (the “Company”) that a consortium of sponsors / shareholders of the Company consisting of Mr. Arif Habib, M/S Arif Habib Equity (Pvt) Ltd, Arif Habib Ltd., Mr. Aqeel Karim Dhedhi, Haji Ghani Usman, Mr. Shunaid Qureshi, Mr. Iqbal Usman, Mr. Muhammad Ayub Yunus Adhi and Summit Bank Limited, (the “Selling Shareholders”) are entering into exclusive negotiations with Bahria Town (Pvt) Ltd. (the “Proposed Buyer”) who have expressed their interest in acquiring controlling interest of the Company.
We will keep you and all our shareholders informed of any material developments in relation to the Proposed Sale.
You may please inform the members of the exchange accordingly.
For more information, contact:
Syed Muhammad Taha
Chief Financial Officer
Javedan Corporation Limited
Pardesi House Survey No. 2/1 R.Y. 16,
Old Queens Road, Karachi- 74000
Fax: (92-21) 2470089