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Karachi, May 25, 2012 (PPI-OT): We refer to our letter No. FIN-10 dated February 2, 2012 and our Corrigendum No. FIN- 750 dated May 11, 2012, copies of which are enclosed, which are self-explanatory.
Pursuant to the Securities and Exchange Commission of Pakistan’s (“SECP”) Directive dated January 25, 2012, we had informed you that a meeting of the shareholders of JS Value Fund Limited (“JSVFL”) will be required to be convened in December 2012, to decide as to whether to convert JSVFL into an open-end scheme, or to wind-up JSVFL, as required by Regulation 65 of the NBFC Regulations.
In compliance with the second requirement of the SECP’s Directive, the Board of Directors of JSVFL has now tentatively fixed the date of Thursday, December 13, 2012 for holding the general meeting of the certificate holders of JSVFL for the purpose of implementation of Regulation 65 of the NBFC Regulations.
The above information has also been placed at JS Investments Limited’s website www.jsiI.com and will also be disclosed in the ensuing published accounts of JSVFL.
Pursuant to the Securities and Exchange Commission of Pakistan’s (“SECP”) Directive dated January 25, 2012 to make disclosure in relation to the conversion of closed-end funds into open-end schemes in accordance with Regulations 65 of the NBFC Regulation, 2008, we hereby inform you that a meeting of the shareholders of JS Value Fund Limited (“JSVF”) will be required to be convened in October, 2012, to decide as to whether to convert JSVF into an open-end scheme or to wind up JSVF after November 20, 2012, as required by Regulations 65.
The meeting of the shareholders will be required to be convened in October, 2012.
The above information has also been placed at JSIL’s website www.jisl.com.
JS Value Fund Limited (a Investment Company) – Compliance with Regulations 65 of the NBFC Regulations, 2008
We refer to our letter No. FIN-10 dated February 2, 2012 a copy of which is enclosed, which is self-explanatory.
Pursuant to the Securities and Exchange Commission of Pakistan’s (“SECP”) Directive dated January 25, 2012, we had informed you (vide our above referred letter) that a meeting of the shareholders of JS Value Fund Limited (“JSVFL) will be required to be convened in October, 2012, to decide whether to convert JSVFL into an open-end scheme, or to wind up JSVFL after November 20, 2012 as required by Regulation 65 of the NBFC Regulations.
We have now been advised by our legal counsel that such meeting of the shareholders of JSVFL will have to be held within one month from the date of expiry of the five year period commencing from November 21, 2007, i.e. in December, 2012 and not in October, 2012. Hence, the meeting will be held on the month of December, 2012, instead of October, 2012 that was mentioned in our above – referred letter.
The above information has also been placed at JS Investments Limited’s website www.jsiI.com.
For more information, Contact:
Muhammad Khawar Iqbal
CFO & Company Secretary
JS Value Fund Limited
7th Floor, The Forum, G-20,
Khayaban-e-Jami, Block-9,
Clifton, Karachi – 75600, Pakistan.
Tel: (+92-21)111-222-626
Fax: (+92-21) 35361727