Lahore Stock Exchange decides to delist KASB Bank Limited

Lahore, May 11, 2015 (PPI-OT): Pursuant to the Scheme of Amalgamation of KASB Bank Ltd. with and into Bankislami Pakistan Ltd. sanctioned by the Federal Government under Section 47 of the Banking Companies Ordinance, 1962 on May 07, 2015, with immediate effect, and cancellation of the Banking License of KASB Bank Ltd. with immediate effect by State Bank of Pakistan. It has been decided to delist KASB Bank Ltd. w.e.f. Tuesday, May 12, 2015. After the delisting of this Bank from the Lahore Stock Exchange number of companies listed at LSE would reach to 433.

It is further notified that as per Scheme of Amalgamation, the transferee bank i.e. Bankislami Pakistan Ltd. shall pay a token compensation/consideration of Rs. 1,000/- for the entire shareholding to the shareholders of the KASB Bank Ltd. in proportion to their shareholding.

For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan
Tel: +92-42-36368000
Fax: +92-42-36368484-85
Email: barkatali@lse.com.pk
Website: www.lse.com.pk