Jubilee General Insurance Company Limited’s financial results for the year ended December 31, 2011 issue of bonus shares

Karachi: Further to our letter dated February 14, 2012, on the above subject.

We are enclosing herewith a Certified True Copy of Free Reserve Certificate as at December 31, 2011 issued by our auditors M/s. Ernst & Young Ford Rhodes Sidat Hyder, Chartered Accountants, dated February 14, 2012 for your information and record.

Certificate on Residual Free Reserves for the Issue of Bonus Shares

We have reviewed the enclosed computation of residual free reserves for the issue of bonus shares prepared by the company, and we have ascertained from the Company’s financial statements for the year ended 31 December 2011 that the residual ‘free reserves’ in terms of the meaning given to ‘free reserves’ in the Companies (Issue of Capital) Rules, 1996 after the proposed issue of bonus shares of face value of Rs. 197.744 million would be higher than twenty five percent of the enhanced paid-up capital of Rs. 1,186,465 million.

This certificate is being issued at the request of the Company for the purpose of issue of bonus shares in accordance with Rule 6 of the Companies (Issue of Capital) Rules, 1996.

For more information, Contact:
Jubilee General Insurance Company Limited
2nd Floor, Jubilee Insurance House,
I. I. Chundrigar Road,
P. O. Box 4795 Karachi-74000 Pakistan
UAN: 111-654-111
Tel No: 32416022-26
Fax No: 32416728-32438738,
Email: info@jubileegeneral.com.pk
Website: www.jubileegeneral.com.pk