Media Times Limited’s right issue of shares

Karachi: This is to inform you that the Board of Directors in their meeting held today have approved to issue 44,712,752 ordinary Right shares of Rs. 10/- each to the subscribes /underwriter to the right issue.

Further the Board of Directors of the Company have approved to print and dispatch the share certificates to the respective shareholders of the Company in physical shares or credit in their respective accounts in the Central Depository System of Central Depository Company of Pakistan Limited on the basis of the option exercised by the shareholders.

For more information, contact:
Nadeem Maqsood
Company Secretary
Media Times Limited
103-C/II, Gulberg-III,
Lahore Pakistan,
UAN: 92- 42-111-947-947
PABX: 92-42-35757591-94
Fax: 92-42-35757590, 35877920

Media Times Limited’s appointment of directors

Karachi: We have to inform you that Ms. Maheen Ghani Taseer and Ms. Samira Ahmed Zia have been appointed as Directors of Media Times Limited (MDTL) w.e.f. 10 January 2012 in place of Mr. shahbaz Ali Taseer and Mr. Omer Subhan Salamat respective, due to their casing to hold the office of Directors of the Company in accordance with the provision of Section 188 (b) of the Companies Ordinance 1984.

For more information, contact:
Nadeem Maqsood
Company Secretary
Media Times Limited
103-C/II, Gulberg-III,
Lahore Pakistan,
UAN: 92- 42-111-947-947
PABX: 92-42-35757591-94
Fax: 92-42-35757590, 35877920

Media Times Limited’s Issuance of Right Shares of Media Times Limited (“the Company”)

Karachi: This is with reference to the subject cited, we are pleased to inform you that the unpaid rights in respect of 33.33% Right issue of shares as declared by the Board of Directors of the Company have been credited through book entry form to the respective CDS Account(s) of the Shareholders on 18 November 2011 and are being dispatched to the physical shareholders to-day i.e. on 21 November 2011.

Copy, of the notification in respect of dispatch of physical letter of rights and credit of unpaid rights into book entry form along with payment procedures and payment schedule to be published in two widely circulated Newspapers is attached for your information.

Dispatch / Credit of un-paid Letter of Rights

We are pleased to notify that unpaid tights in respect of 33.33% Right issue of shares as declared by the Board of Directors of the Company in their meeting held on 10 January 2011 have been credited through book entry form to the respective CDS Account(s) of the Shareholders.

The payment of right offer by CDS account holders, detail of trading, subscription and credit of right securities for CDS accounts holders (as per CDC Unpaid Rights Procedures) are as follows:

Activities Date

Date of commencement of trading of unpaid right at Stock Exchange (s) 29 November 2011
Last date of trading of unpaid right 04 January 2012
Subscription of right offer start date 18 November 2011
Last date of subscription of right offer 11 January 2012
Date of credit of right shares into CDC 31 January 2012

It is further notified that the Letter of Rights in respect of the above to the shareholders holding shares of the Company in physical form have been dispatched to the respective shareholders through registered post on 21 November 2011. In case of non-receipt within 10 working days hereof, shareholders may contact our Registrar and Shares Transfer Office at THK Associates (Pvt) Limited, Ground Floor, State Life Building-3, Dr. Ziauddin Ahmed Road. Karachi.

The account holders, sub-account holders and / or investor account holders are requested to follow the guidelines of Listing Regulations and CDC unpaid right procedures.

For more information, contact:
For Media Times Limited
Nadeem Maqsood
Company Secretary
Media Times Limited
103-C/II, Gulberg-III,
Lahore Pakistan,
UAN: 92- 42-111-947-947
PABX: 92-42-35757591-94
Fax: 92-42-35757590, 35877920

The Karachi Stock Exchange (Guarantee) Limited’s commencement of trading in the unpaid rights of Media Times Limited

Karachi: The Karachi Stock Exchange (Guarantee) Limited (KSE) has approved the schedule of issue of right shares of Media Times Limited as notified vide our Notice No.KSE/N-6237 dated November 17, 2011. The trading in the Unpaid Rights of the Company will start on this Exchange w.e.f. November 29, 2011. The first settlement date will be December 1, 2011.

The Unpaid Rights of the Company have already been declared as eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the NCCPL, which has already assigned the Company Code/Security Symbol as “MDTLR”.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

Media Times Limited’s financial results for the period ended 30 September 2011

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on 26 October 2011, at 04:00 p.m. at Lahore have recommended the followings:

Bonus Shares         Nil
Cash Dividend        Nil
Right Issue          Nil

Financial Results:

The financial results of the Company ire as under:

Profit and Loss Account for the period ended 30 September 2011

 

30 September

30 September

2011

2010

(Rupees)

(Rupees)

Revenue – Net 66,677,661 119,814,426
Direct costs (103,266,606)  (82,635,125)
 ———– ———–
Gross profit/ (Loss)  (36,588,945) 37,179,301
Operating cost (34,766,704)  (53,575,623)
———–  ———–
Operating loss  (71,355,649) (21,396,322)
Finance costs  (23,338,434) (18,135,144)
———–  ———–
 (94,694,083) (39,531,466)
Other Operating income 482,606 26,824
———–  ———–
Loss before taxation  (94,211,477) (39,504,642)
Taxation 33,872,086 12,443,063
———– ———–
Total comprehensive loss for the period (60,339,391)  (27,061,579)
———– ———–
Loss per share – basic and diluted  (0.45)  (0.20)

 

Since the Company has not declared any payouts, therefore no book closure is required.

For more information, contact:
Nadeem Maqsood
Company Secretary
Media Times Limited
103-C/II, Gulberg-III,
Lahore Pakistan,
UAN: 92- 42-111-947-947
PABX: 92-42-35757591-94
Fax: 92-42-35757590, 35877920

Media Times Limited’s election of directors for the term of next three years

Karachi: We have to inform you that the following persons have been elected as Directors of Media Times Limited (MDTL) for the term of next three years commencing from 29 June 2011 in the Extraordinary General Meeting of the Company held on 28 June 2011 at 11:30 a.m.

The names of the Directors are as under:

1. Mrs. Aamna Taseer
2. Mr. Shahbaz Ali Taseer
3. Mr. Shehryar Ali Taseer
4. Miss. Shehrbano Taseer
5. Mr. Omer Subhan Salamat
6. Syed Kashan Hussain Kazmi
7. Mrs. Maimanat Mohsin

For more information, contact:
Abdul Sattar
DGM Corporate
Media Times Limited
103-C/II, Gulberg-III,
Lahore-Pakistan
UAN: +9242 111-947-947
PABX: +9242 35757591-94
Fax: +9242 35757590,

Media Times Limited’s Notice of Extraordinary General Meeting

Karachi: Reference to our earlier letter No. MTL/C and T/04/2011/dated 30 April 2011, enclosed please find a copy of Notice of Extraordinary General Meeting to be held on 28 June 2011 at 11:30 am, for your information and record.

Notice is hereby given that an Extraordinary General Meeting of the Shareholders of Media Times Limited (“MTL or the “Company”) will be held on ,Tuesday, 28 June 2011 at 11:30 a.m. at the Head Office of the Company, 103-C/II, Gulberg-III, Lahore, to transact the following business:-

1. To confirm the minutes of the last Annual General Meeting held on 30 October 2010;

2. To elect 07 (seven) Directors as fixed by the Board of Directors in accordance with the provisions of section 178 of the Companies Ordinance, 1984, for the term of next three commencing from 29 June 2011. Following are the retiring Directors:

1. Mrs. Amna Taseer
2. Mr. Shehryar Ali Taseer
3. Mr. Shahbaz Ali Taseer
4. Miss. Shehrbano Taseer
5. Mr. Omer Subhan Salamat
6. Syed Kashan Hussain Kazmi
7. Mrs. Maimanat Mohsin

Notes:-

1) The Register of members will remain c1osed from 21 June 2011 to 28 June 2011 (both days inclusive). Transfer received at THK Associates (Pvt.) Limited, Ground Floor, State Life Building no. 3 Dr. Ziauddin Ahmed Road, Karachi, the Registrar and Shares transfer Office of the Company, by the close of business on 20 June 2011 will be treated in time for the purpose of this Meeting;

2) Any member who seeks to contest the election to the office of Directors shall, whether he/she is retiring Director or otherwise, file with the Company, not later than 14 days before the date of the meeting at which elections are to be held, a notice of his/her intention to offer himself/herself for election as a Director. Relevant declaration (s) in accordance with the listing Regulations along with consent to act as Director under section 184 of the Companies Ordinance, 1984 are also to be filed;

3) Copies of Memorandum and Articles of Association of the Company, Listing Regulations of the Stock Exchanges, Companies Ordinance, 1984 and other relevant laws may be inspected during the business hours on any working day at 41-N, Industrial Area, Gulberg II, Lahore the Registered Office of the Company from the date of the publication of this notice till the conclusion of the General Meeting;

4) A member eligible to attend and vote at the meeting may appoint another member as proxy to attend and vote in the meeting. Proxies in order to be effective must be received by the Company at 41-N, Industrial Area, Gullberg-II Lahore the Registered Office of the Company not later than 48 hours before the time for holding the meeting and must be duly stamped signed and witnessed.

5) In order to be valid, an instrument of proxy and the power of attorney or other authority (if any) under which it is signed, or a notarized / certified copy of such power of attorney, must be deposited at 41-N, Industrial Area, Gullberg-II, Lahore the Registered Office of the Company not less than 48 hours before the time of the meeting;

6) a) Individual beneficial owners of CDC entitled to attend and vote at the meeting must bring his/her participant ID and account/sub-account number along with original NIC or passport to authenticate his/her identity. In case of corporate entity, resolution of the Board of Directors/Power of attorney with specimen signature of nominees shall be produced (unless provided earlier) at the time of meeting. CDC Account holders may also refer to Circular 01 dated 26 January 2000 issued by Securities and Exchange Commission of Pakistan;

b) For appointing of proxies, the individual beneficial owners of CDC shall submit the proxy form as per above requirement along with participant ID and account/sub-account number together with attested copy of their NIC or Passport. The proxy form shall be witnessed by two witnesses with their names, addresses and NIC numbers. The proxy shall produce his/her original NIC or Passport at the time of meeting. In case of Corporate entity, resolution of the Board of Directors/Powers of attorney along with specimen signature shall be submitted (unless submitted earlier) along with the proxy form;

7. Members are requested to notify any change in their registered address immediately.

For more information, contact:
Nadeem Maqsood
Company Secretary
Media Times Limited
103-C/II, Gulberg-III,
Lahore Pakistan,
UAN: +9242 111-947-947
PABX: +9242 35757591-94
Fax: +9242 35757590, 35877920