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Karachi, August 05, 2013 (PPI-OT): With reference to our letter dated July 25, 2013 regarding meeting of Board of Directors to discuss company’s affairs.
We have to inform you that the Board of Directors of our Company in their meeting held on August 3, 2013 at 11.00 A.M. at Nadir House, 2nd Floor, I.I. Chundrigar Karachi have decided to further enhance the issuance of Right Shares as previously declared from Rs. 332,750,000 divided into 33,750;000 shares to Rs. 499,125,000 representing 49,912,500 ordinary shares of Rs. 10 each., in the ratio of 8:33 i.e. thirty three Right Shares for every eight Shares held i.e. 412.5% at a discount of Rs. 4 per share.
The proposed Right issue shall be presented to the shareholders in the forthcoming Extra Ordinary General Meeting and subject to the approval by the shareholders and after necessary approvals of all relevant authorities and Securities, and Exchange Commission of Pakistan, and upon due subscription the Paid-up Capital of the Company shall be Rs. 620,125,000.
For more information, contact:
Malik Mehdi Muhammad
CFO
The Crescent Star Insurance Company Limited
Nadir House, 2nd Floor,
I. I. Chundrigar Road,
P. O. Box: 4616, Karachi – 74000
Ph: 021-2415471 (3 Lines)
Fax: (92-21) 2415474
E-mail: info@cstar.com.pk
Website: www.cstar.com.pk