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Karachi, June 04, 2013 (PPI-OT): With refer to your fax dated 07/05/2013 (copy enclosed) regarding the compliance of CDC Procedure. We are sending you certified copy of Form-26 (Special Resolution) of “Reduction in Paid up Capital” certified by the Deputy Registrar of Company Registration Office, Lahore.
We further request you to complete the procedure as early as possible and oblige.
Procedures for Consolidation/ Sub-division
In accordance with section 13 of Central Depositories Act, 1997, we have developed following procedures for handling consolidation/ sub division of securities on CDS.
Detailed Procedures:
1. Issuer is required to notify us the Book Closure start and date, details of consolidation/ sub-division and to provide certified true copy (by CRO) of Special Resolution (Form 26 ) filed by the company to the registrar of companies.
2. Upon receipt of notice, we will define Book Closure period and details of consolidation/ sub-division in the CDS:
3. Upon commencement of Book Closure, following functionalities will be blocked in CDS till consolidation/ sub-division apply date:
Free deliveries (Inter Account and Intra Account)
Pledge, pledge release and pledge call
Deposit and Withdrawal request
4. CDC will make available Share Book Detail and send Consolidation/ Sub-division entitlement list along with specimen notification as to confirmation of revised CDC nomine holdings in the Members Register (in soft form (in soft form in password protected CD)(annexure A) issuer on 5th Business Day from Book Closure Start Date. In case of no pending deposit requests and upon request, the said list can be provided at any time after start of book closure period.
5. Upon reopening of share transfer books, that authorities for Deposit and Withdrawal approval functionalities will be blocked till apply date.
6. Upon receipt of Confirmation of Revised CDC notification holding in the Members, Register as per our standard format from the issuer, CDC will define Apply Date and System to automatically revise the holding during EOD process.
7. After the end of day, preceding the apply date (consolidation/ sub-division date), CDC will obtain list of shareholders for internal record purposes.
Notes:
Fractional entitlements will be disposed off and distributed in accordance with relevant laws and regulations to respective account holders and sub-account holders.
Securities under pledge will also be revised with the impact of consolidation/ sub-division.
For more information, contact:
Muhammad Jahangir Khan
Company Secretary
The Karachi Stock Exchange Limited
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk