Karachi: We invite your kind attention to our letter dated March 6, 2012, under cover of which Bank’s Financial Results for the year ended December 31, 2011, were sent to you.
Now, we enclose Auditors’ Certificate dated March 6, 2011, issued by the Bank’s External Auditors, Messrs KPMG Taseer Hadi & Company, Chartered Accountants, and Messrs Anjum Asim Shahid Rehman, Chartered Accountants, requited under Rule 6 of The Companies (Issue of Capital) Rules, 1996.
As requested, we have reviewed to computation of residual free reserves for the issue of bonus shares made by National Bank of Pakistan (the bank) and have ascertained from the bank’s financial statements for the year’s ended December 31, 2011 that the residual free reserves in terms of the meaning given to free reserves in the Companies (Issue of Capital) Rules, 1996 after the proposed issue of bonus shares of face value of Rs. l,682 million would be higher than twenty five percent of the enhanced paid-up capital of Rs. 18,500 million.
This letter is being issued on request of the bank for the purpose of issue of bonus shares in accordance with Rule 6 of the Companies (Issue of Capital) Rules, 1996.
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136