Karachi, September 11, 2012 (PPI-OT): In connection with the Listing Regulation No. 35 under the Code of Corporate Governance, we are pleased to convey the following information:
We are pleased to announce that JS Bank Limited (JSBL) has today signed a Sale and Purchase Agreement with HSBC Middle East Limited for the acquisition of HSBC-Pakistan operations. The Sale and Purchase Agreement sets out a methodology for the determination of the sale price which will be finalized by the date of Completion of sale.
The above transaction is subject to the approval of State Bank of Pakistan and compliance with all other applicable laws, rules and regulations.
For more information, contact:
Muhammad Yousuf Amanullah
Company Secretary
JS Bank Limited
Shaheen Commercial Complex,
Dr. Ziauddin Ahmed Road
P. O. Box: 4847
Karachi-742000, Pakistan
UAN: +92 21 111 JS BANK (572-265)
Phone: +92 21 3227 2569-80
Fax: +92 21 3263 1803
Web: www.jsbl.com