Karachi, June 05, 2012 (PPI-OT): We, United Bank Limited (UBL), as part of the consortium of United Bank Limited (“UBL”), Shore Cap II Limited, Rural Impulse Fund II S.A SICAV-FIS, responsibility Global Microfinance Fund and ASN Novib Microkreditfunds, (hereinafter collectively referred to as “Consortium”), would like to inform you that we have entered into and executed a Share Purchase Agreement on June 4, 2012 with National Bank of Pakistan, MCB Bank Limited, Allied Bank Limited, Standard Chartered Bank (Pakistan) Limited, Askari Bank Limited, Citibank N.A, Habib Metropolitan Bank Limited, Faysal Bank Limited, KASB Bank Limited, Silk Bank Limited and Summit Bank Limited (hereinafter collectively referred to as “Sellers”) to purchase 67.4% shareholding of Khushhali Bank Limited (“KBL”) it a purchase price/share of PKR 20.44 (approximately). UBL, which already holds 11.74% of the issued and paid up capital of KBL, now has a cumulative shareholding of 29.69%. The total cumulative shareholding of the Consortium now stands at 79.2% of the paid up capital of KBL.
For more information, Contact:
Aqeel Ahmed Nasir
Company Secretary and
Chief Legal Counsel
United Bank Limited
State Life Building # 1,
I. I. Chundrigar Road,
Karachi-Pakistan
UAN: 111-825-888,
Web: www.ubl.com.pk