Karachi: With reference to our application for issuance of Right Shares we hereby further confirm as under
We shall abide by the CDC and KSE procedures relating to right shares and shall deposit the unpaid right in De Met (Book Entry) within the time frame as stipulated under the CDC procedures vide CDC letter No. FL/FEB-2012/OPS/005 dated February 09, 2012 as well as KSE regulations vide letter No. KSE/C-1040-7173 dated November 24, 2011.
The payment of unpaid right letter will be made by cash or crossed cheque or demand draft or pay order made out to the credit of Shaheen Insurance Company Limited RIGHT SHARES SUBSCRIPTION ACCOUNT through any of the branch of JS Bank Limited in Pakistan as per tentative schedule submitted to you.
The Shareholders holding shares of the Company in physical form should note that under the CDC applicable right shares procedures the physical shareholders can renounce his letter of Right (LOR) by routing through his own CDC IAS Account/ Sub Account to a shareholder who is the IAS account holder or sub account holder with CDC and no credit of right shares will be allowed in book entry form against subscription of physical letter of Right (LOR).
Tentative Schedule for Issuance of 20% Ordinary Right Shares at Par
|Book Closure||01-03-2012 to 08-03-2012|
|Last Date for credit of Un-paid Right Shares in CDS||26-03-2012|
|and Confirmation to Stock Exchanges||(Monday)|
|Last Date for Dispatch of Physical Letter of Rights||27-03-2012|
|Intimation to Stock Exchange(s) for dispatch||17-03-2012|
|of Physical Letter of Rights||(Tuesday)|
|Commencement of trading on Stock Exchanges||28-03-201|
|Last Date for splitting and deposit of Request into CDS||20-04-2012|
|Last date of Trading||02-05-2012|
|Last Date of acceptance/ Payment/ remuneration||09-05-2012|
|Intimation to Stock Exchange about Subscription||14-05-2012|
|Allotment of Shares and Credit of Book entry of||29-05-2012|
|Shares in CDS||(Monday)|
|Physical Shares Certificates Ready for Exchange||08-06-2012|
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136