Karachi: With respect to the above captioned subject, we are pleased to inform you that 17,984,018 ordinary shares have been subscribed by the existing shareholders at Rs. 15/- per share in accordance with their right entitlement and a sum of PKR 269,760,270 has been received as subscription amount for the same.
Further, by virtue of the powers bestowed under section 86(7) of the Companies Ordinance, 1984, the Board of Directors of Thatta Cement Company Limited have decided to issue the unsubscribed portion of the Right shares i.e. 1,959,607 shares for PKR 29,394,105 at Rs. 15/- per share to other shareholders.
Hence, the total amount of PKR 299,154,375 against the issue of 19,943,625 right shares at a premium of Rs. 5/- per has been received and in this respect we are submitting herewith the Auditors’ Certificate dated July 05, 2011 and a copy of Bank Balance Confirmation Certificate dated July 04, 2011 confirming the total receipt.
Hyder Bhimji and Company
As requested, we confirm that we have verified from the books and records of M/s Thatta Cement Company Limited (the Company) maintained up-to 04-July, 2011 that an amount of Rs. 269,760,270 has been received from the shareholders towards subscription of 17,984,018 shares, against the total offer of 19,943,625 right shares for Rs. 299,154,375 each including premium of Rs. 5 per share from the shareholders of the Company.
As decided by board of directors resolution dated June 29, 2011, the unsubscribed portion of the right issue totaling 1,959,607 right shares, amounting to Rs. 29,394,105 were offered and subscribed as under:-
|S#||Subscribers||No. of Shares||Amount including
|1.||State Life Insurance Corporation||1,500,000||22,500,000|
|2.||Summit Bank Limited||459,607||6,894,105|
Furthermore, consequent upon subscription of right shares, the issued, subscribed and paid-up capital of the Company would be Rs. 997,181,250 divided into 99,718,125 ordinary shares of Rs. 10 each.
This certificate is being issued on the specific request of the management of the company for onward submission to the Karachi Stock Exchange (Guarantee) Limited (KSE) and Central Depository Company of Pakistan Limited.
For more information, contact:
Karachi Stock Exchange
Tel: +9221 111 001 122
Fax: +9221 3241 0825, +9221 3241 5136