Karachi, November 23, 2012 (PPI-OT): Further to our Notices No. KSE/N-4223 dated September 18, 2012 and KSE/N-4785 dated October 10, 2012.
It is hereby informed to all concerned that Southern Networks Limited has completed the relevant requirements to commence buy-back of shares by the Sponsors for an initial period of 60 days as required under Listing Regulation No. 30-A of the Exchange.
The trading in the shares of the Company was suspended by the Exchange vide Notice No. KSE/N-1250 dated February 28, 2009 on account of the reasons as contained in the Notice. The Company has confirmed issuance of physical share certificates to the CDC Account Holders vide letter dated October 30, 2012, which has already been placed on the website of the Exchange.
In view of above, the trading in the physical shares of the Company will be allowed for an initial period of 60 days w.e.f. November 28, 2012.
AKD Securities Limited has been appointed as the Purchase Agent on behalf of the Sponsors who will be required to place the live bid in the system at the minimum purchase price of Rs. 3/-per share approved by the Exchange.
On completion of initial buy-back period of 60 days, trading in the shares of the Company will be suspended followed by Delisting of the Company on fulfillment of the relevant requirements. Necessary Notice of Delisting will be issued separately.
For more Information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136