The Karachi Stock Exchange (Guarantee) Limited’s Notice of Intention to Suspend CDS Eligibility of Ordinary Shares of Baba Farid Sugar Mills Limited under the CDC Regulations

Karachi: In view of non-submission of R/TA Reconciliation Reports by our company for financial year ended September 30, 2011, despite our follow-ups and notice dated March 12, 2012 under Regulation 13.7.1 of the CDC Regulations allowing further 3 Business Days to comply with the said notices, an amount of Rs. 10,000 each was imposed on your company as fine where an invoice was raised in this regard.

As your company is continuously in defaults of the said regulatory requirement, this failure on part of your company is construed as contravention of the contravention of CDC Regulations, thus giving rise to Regulation 5.3.1 of the Regulations, which authorizes CDC to take action including suspension of CDS Eligibility of Securities of the Issuer in respect of which non-compliance has occurred.

You are therefore notified under Regulation 5.3.2 of the CDC Regulations that consequent to failure by your company to comply with Regulation 13.7.1 of the CDC Regulations with respect to submission of R/TA Reconciliation report for the period ending September 30, 2011 truly certified by your external auditor relating to the Ordinary Shares (Security Symbols: BAFS) of your company (the “said Securities”), CDC intends to suspend the CDS Eligibility of the said Securities with effected from April 24, 2012.

In view of the above, you are hereby advised to comply with Regulation 13.7.1 of the Regulations by submitting the R/TA Reconciliation Reports correct as of September 30, 2011 duly certified by your external auditor along with payment of fine of Rs. 10,000/- without further delay but not later than April 23, 2012 to avoid suspension of CDS Eligibility of the said Securities as aforesaid.

As required by the said Regulation 5.3.2 of the CDC Regulations, a copy of this notice is being sent to the Stock Exchanges where the said Securities are listed.

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