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Karachi, August 01, 2012 (PPI-OT): This is to inform to all the shareholders that the Sponsors of Bawany Sugar Mills Limited (the Company) have decided to purchase all the shares of the Company held by others. The shareholders of the Company passed a special resolution for de-listing of the Company from the Karachi Stock Exchange and Lahore Stock Exchange at the Extraordinary General Meeting held on July 06, 2012, copy of Special Resolution is being sent to the members separately. Below are the set out terms, conditions and procedures for purchase of the shares of the Company by the Sponsors.
1. The Sponsors are offering to buy the shares of the Company at a price of Rs. 10.75/-per share. This purchase price has also been approved by the Karachi Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited in accordance with their Listing Regulations.
2. The share purchase offer will be valid from August 03 2012 to October 01, 2012 both days inclusive. After this period, it is intended that the Company will be de-listed from the Karachi Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited.
3. This offer is valid for all the shareholders of the company (i.e. those shareholders holding physical share certificates and those shareholders whose shares are held as book-entry security in the Central Depository System of the Central Depository Company of Pakistan Limited (CDC).
4. In order to avail the offer, shareholders need to send (by either Registered mail or courier service) or personally take the following documents to our authorized Purchase Agent.
M/s. AKD Securities Limited 529, Karachi Stock Exchange Building, Stock Exchange Road, Karachi, (Telephone # 021-32446611-1 3, Fax#021-32426429)
A. Physical Shares
i For registered Shareholders
Shares certificates with verified transfer deeds.
Copy of CNIC of shareholder.
ii. For shareholders with open transfer deeds
Share certificates with verified transfer deeds.
Copy of National Identity Card of the person who owns the shares.
iii. Copy of purchase bill of the member of the respective stock exchanges duly attested by the official of the respective stock exchange(s).
M/s AKD Securities Limited will issue a receipt in exchange for the above documents. Once the share certificates, transfer deeds and other documents have been verified by the Company’s Shares Registrar, M/s BMF Consultant Pakistan (Private) Limited, Anum Estate, 310-311, 3rd Floor, 49-Darul Aman Society, Main Sharah-e-Faisal Karachi (Telephone # 021-34321533-34. Fax # 021-34321535), shareholders will be requested to collect payment for their shares at the rate of Rs. 10.75/-per share less the member’s commission from M/s.AKD Securities Limited.
B. Shares through the CDC
The Purchase Agent would purchase the shares either through Karachi Automated Trading System (KATS) / ULTRA or as per following procedure:
Shareholders should arrange to credit CDC Participant Account 10629 Participant; AKD Securities Limited, Sub-account #67804 (Khawaja Anver Majid) and 67796 (Khawaja Mustafa Zulqarnain Majid) Narration should mention owner’s name.
Copy of request letter to participant/broker for share transfer to M/s.AKD Securities Limited.
5. Payment to sellers through KATS/ULTRA will be made as per Clearing House Schedule of the Karachi Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited and to the other shareholders within three weeks of the date of issuance of the receipt.
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