Karachi, May 24, 2012 (PPI-OT): In accordance with Clause (xxiii) of the Listing Regulation No. 35 under Code of Corporate Governance, we are pleased to convey the following information:
We are pleased to inform you that the. Board of Directors of Apna Micro Finance Bank Limited (AMBL) formerly Network Microfinance Bank Limited in its meeting held on May 24, 2012 has announced the issue of 283.333% Right Shares (i.e. 2.833 share against every 1 share) to meet the mandatory minimum capital requirements of SBP i.e. is. 1.00 billion (net off accumulated losses) for the Nation-wide level. Bank License as per prudential regularities for Microfinance Banks (MFBs).
We are expecting that the profitability of the bank will enhance due to availability of additional equity and access to the poor people of whole Pakistan after becoming a Nation-wide level Bank (Subject to the approval from the State Bank of Pakistan) vis-a-vis the public opinion and confidence in the institution will also be increase as a billion bank.
For more information
Apna Micro Finance Bank Limited
202, Azayan Plaza, Opp. FTC Building,
PABX: 34311723 – 25