The Karachi Stock Exchange Limited’s revocation of CDS eligibility of ordinary shares

Karachi, July 09, 2013 (PPI-OT): With reference to your letter HICL-C-0992013 dated July 01, 2013.

As per our communication with the Securities and Exchange Commission of Pakistan (SECP), we have learned that the deadline provided by the SECP to your company for rectification of cases of non-compliances of provisions of the Insurance Ordinance, 2000 to avert initiation of winding proceedings against your company has expired where your company has not complied with the notice dated April 02, 2013 issued by SECP in this regard.

In view of the foregoing, both SECP and CDC feel that it will not be in the public interest to declare and induct your securities in the CDS. We therefore regret we cannot accede to your request.

For more information, contact:
Rasool Hooda
Senior Manager-Legal and Compliance
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