Karachi, October 2, 2012 (PPI-OT): Further to our letter No. TL/2012/0944 dated September 27, 2012 on the subject and we are pleased to enclose herewith the auditors’ certificate of free reserve for issuance of bonus shares @ 10%.
As requested through your letter dated 28 September 2012, we have examined the annexed computation of residual free reserves for the Issue of bonus shares prepared by the Company on the basis of audited financial statements for the year ended 30 June 2012. Based on our examination, we confirm that the residual “free reserves” of the Company, 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. 36.832 million would be higher than twenty five percent of the enhanced paid-up capital of Rs. 405.150 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:
Ali Asghar Moten
Company Secretary
Thal Limited
4th Floor, House of Habib, 3-Jinnah C. H. Society,
Block 7/8, Shahrah Faisal, Kargchi-75350
Tel: (92-21) 431-2030
Fax: (92-21) 431-2318
E-mail: tl@hoh.net
Web: www.thallimited.com