The Karachi Stock Exchange Limited’s application for voluntary de-listing of company

Karachi, December 28, 2012 (PPI-OT): We would like to inform you that the Board of Directors of the Company has considered and accepted the proposal made by the majority shareholders of the company to de-list the shares of the Company from The Karachi Stock Exchange Limited (KSE) in accordance with the Listing/De-listing Regulations.

To date, the Company has listed its shares on only the Karachi Stock Exchange (Guarantee) Limited. To out and streamline administrative operations, however, it has decided to apply for de-listing or its shares. Because, the trading turnover of the Company’s shares is almost non-existent on the Karachi Stock Exchange. The Company believes that the impact of the de-listing on its shareholders and Investors will have no adverse effect.

As soon as the Karachi Stock Exchange approved the fair purchase price per ordinary share, the Company will proceed further to hold Extra-Ordinary General Meeting of the Company to seek approval of the minority shareholders through special resolution for de-listing of the Company from the Karachi Stock Exchange.

The offer made by the intended purchasers will remain open for acceptance by the shareholders of the Company for a period of sixty (60) days. The date from which this offer will be open for acceptance, will be announced after approval of the purchase price.

As required, find please enclosed herewith a cheque bearing No. 10034901 dated 27.12.2012 drawn on Bank Al-Habib Limited, Eidgah Branch, Karachi for Rs. 250,000/-.

However, the required information/ details/ documents will be followed subsequently for which we hereby request your good self to kindly let us know the requisite information/ details/ documents enabling us to further proceed in the matter in question accordingly and oblige.

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