Karachi, November 20, 2012 (PPI-OT): With reference to the issuance of 20% Right Certificates, we hereby further confirm as under:
We shall abide by the CDC and KSE procedures relating to right certificates and shall deposit the unpaid right in De Mat (Book Entry) within the time frame as stipulated under the CDC procedures as well as KSE Regulations.
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 Allied Rental Modaraba-20% Right Issue, account through authorized branches of Standard Chartered Bank-Saadiq and Habib Metropolitan Bank in Pakistan as per tentative schedule submitted to you.
The Certificate holders holding certificates of the Company in physical form should please note that under the CDC applicable right certificates procedures, the physical certificate holders can renounce their letter of right (LoR) by routine through his own CDC IAS Account/ Sub Account to certificate holder who is the IAS account holder of sub account holder with CDC and no credit of right certificate will be allowed in book entry form against subscription of physical letter of right (LoR).
We shall request you to kindly approve the attached drafts of Letter of intimation, Letter of Rights to Physical Certificate holders. Circular under section 86 and the Tentative Schedule of Right issue, Right subscription request at the earliest.
Issue of 15,000,000 ordinary certificates of Rs. 10 each to be issued at Rs. 19 (including premium of Rs. 9) per certificate Tentative dates of issuance of Right Letters, credit into CDC. Payment, issuance of shares and deposit into CDC for approval of the Stock Exchanges Stock Closure: from November 19, 2012 to November 25, 2012 (both days inclusive)
|1.||Date of Credit of unpaid Right into CDC in book entry form.||26-Nov-12||Monday|
|2.||Dispatch of Letter of Rights (LoR) to Physical certificateholders.||28-Nov-12||Wednesday|
|3.||Intimation to Stock Exchange for dispatch of physical Letter of Rights (LoR).||29-Nov-12||Thursday|
|4.||Commencement of Trading of unpaid Rights on Karachi Stock Exchange Ltd.||30-Nov-12||Friday|
|5.||Last date for splitting and deposit of request into CDS.||26-Dec-12||Wednesday|
|6.||Last date of trading of Right Letters.||4-Jan-12||Friday|
|7.||Last date of acceptance and payment of Right Certificates in physical/ CDC form.||11-Jan-13||Friday|
|8.||Allotment of certificates and credit of book entry certificate into CDC.||31-Jan-13||Thursday|
|9.||Date of dispatch Physical Certificates.||11-Feb-13||Monday|
For more Information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136