Karachi: Please refer to your letter (Ref. No.KSE/C-49-1980) dated March 09, 2012 on the above subject addressed to our Company Secretary (received on March 12, 2012) and find enclosed herewith copy of the Certificate No. B 0357 dated March 08, 2012 as issued by our Auditors, M/s A.F. Ferguson & Co. confirming therein that the company’s residual “free reserves” in terms of the meaning given in the Companies (Issue of Capital) Rules, 1996, after the proposed issue of bonus would not be less 8then twenty five percent of the enhanced paid-up capital.
We trust that this meets with your requirement.
We have ascertained from the company’s financial statements for the year ended December 31, 2011, that the company’s residual “Free reserves” in terms of the meaning given in the Companies (Issue of Capital) Rules, 1996, after the proposed issue of bonus shares of a face value of Rs. 239.269 million would not be less than twenty five percent of the enhanced paid-up capital of Rs. 2,631.98 million.
For more information, Contact:
GlaxoSmithKline Pakistan Limited
35-Dockyard Road, West Wharf,
Tel: 92-21 32315478-82
Fax: 92-21 32314898