Karachi: Please refer to our application for buy-back of shares by the sponsors and subsequent delisting of the company and the discussions held at the Committee meeting of the Exchange today.
We hereby convey our revised offer for buy-back of shares of the company at Rs. 5/- per share by the sponsors.
You are, requested to please accept our revised offer and let us know the requirements to be followed in this behalf.
Voluntary Delisting of your Company
Please refer to your letter dated March 8, 2012 on the subject.
In accordance with listing Regulation No, 30-A (ii), we are pleased to inform you that the Voluntary Delisting Committee or the Exchange has approved the revised offer of the sponsors to purchase the ordinary shares at a minimum buy-back price of Rs. 5/- per share, subject to purchase of at least 25% i.e. 431,100 ordinary shares out of the total 1,724,400 ordinary shares outstanding with the shareholders other than sponsors, to quality for delisting.
We are also, enclosing herewith the required documents / information with specimen thereof for necessary compliance.
You are requested to please convey us the acceptance of the sponsors under Listing Regulation No. 30-D (iv) and ensure compliance of the time bound requirements as laid-down under the relevant Listing regulations.
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136