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 › Dividend Distribution › Stock Exchange Announcements › The Karachi Stock Exchange (Guarantee) Limited’s issuance of right Shares

The Karachi Stock Exchange (Guarantee) Limited’s issuance of right Shares

Web Desk July 6, 2011     No Comment     Dividend Distribution, Stock Exchange Announcements

Karachi: Please refer to your letter # KSE/C-141-2764 dated May 03, 2011 on the subject We are enclosing herewith copy of Auditor’s Certificate dated June 29, 2011 regarding receipt of full amount of Rs. 1,313,457,615/- against 87,563,841 shares of Right Issue 3 of the Company along with Board of Directors’ resolution dated June 28, 2011 regarding offer of un-subscribed shares to Bestway Cement Limited, applicant for unsubscribed shares and allotment of right shares to the subscribers of shares for the Right Issue 3 for your information and record.

To Whom It May Concern

We, the auditors of the Mustehkam Cement Limited (“the Company”), have examined the books of accounts of the Company in relation to the issue of right shares (2.10 right shares for every one share held) and related documents and accordingly certify that the company has received Rs 1,313,457,615/- against the rights issue of 87,563,841 shares of Rs 15/- each offered to the directors, associated companies, and other shareholders listed below. These shares have been fully subscribed and paid in full as per detail below:

 

Sr. No.Name of ShareholdersShareholding

(Shares)

Right Entitlement

(Shares)

Right Shares SubscribedAmount paid (Rupees)
Associated Companies
———–————-
1Bestway Cement Limited39,623,53383,209,41883,209,4181,248,141,270
———–————-
Others
———–————-
2Other shareholders5,20410,91710,917163,755
———–————-
Sub Total39,628,73783,220,33583,220,3351,248,305,025
———–————-
Unsubscribed shares

Subscribed by:

———–————-
3Associated companies4,343,50665,152,590
———–————-
Total87,563,8411,313,457,615

 

After the above subscription the revised paid up capital of the Company will be as follows:

 

Number of  SharesAmount Rupees
Existing41,697,067416,970,670
New87,563,841875,638,410
Total129,260,9081,292,609,080

 

This certificate is issued at the request of the Company to comply with the requirement of the Karachi Stock Exchange (Guarantee) Limited, Islamabad Stock Exchange (Guarantee) Limited and Lahore Stock Exchange (Guarantee) Limited.

For more information, contact:
Karachi Stock Exchange
Tel: +9221 111 001 122
Fax: +9221 3241 0825, +9221 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

Dividend Distribution Stock Exchange Announcements
Karachi Stock Exchange

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― July 6, 2011

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― July 6, 2011

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