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Monday, November 20th, 2017

TPL Direct Insurance Limited’s financial results for the year ended 31 December 2012

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Karachi, March 18, 2013 (PPI-OT): We have to inform you that the Board of Directors of TPL Direct Insurance Limited (TDIL) in their meeting held on 18th March 2013 at 11 a.m. at 39-K, Block -6, PECHS, Karachi recommended the following:

(i) Cash Dividend                                    – Nil

(ii) Bonus Shares                                    – Nil

(iii) Right Shares                                   – Nil

(iv) Any Other Entitlement/ Corporate Action         – Nil

(v) Any Other Price-Sensitive Information

The Annual results of the Company for the year ended 31st December 2012 are enclosed to this letter.

The Annual General Meeting of the Company is proposed to be held on 18th April 2013 at 11 a.m. subject to approval by Karachi Stock Exchange.

We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange, 21 days before AGM and the same will be placed on our website www.tplinsurance.com.

The Share Transfer Books of the Company will be closed from 9th April 2013 to 18th April 2013 (both days inclusive). Transfers should be received at the office of our registrar M/S THK Associates (Pvt.) Limited, Ground Floor, State Life Building No. 3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on 8th April 2013.

Profit and Loss Account for the Year Ended 31 December 2012

Motor

Miscellaneous

2012

2011

Restated

(Rupees)

Revenue account
Net premium revenue 609,372,576 10,481,645 619,854,221 453,631,751
Net claims (254,716,547) 828,525 (253,888,022) (171,289,225)
Expenses (210,760,389) (2,784,455) (213,544,844) (163,007,772)
Net commission (61,440,711) (3,521,476) (64,962,187) (46,378,670)
———– ———- ———– ———–
Underwriting result 82,454,929 5,004,239 87,459,168 72,956,084
Investment income ———– ———-
Other income 6,186,493 8,520,843
General and administrative expenses 76,443,905 33,161,106
Financial charges (106,657,658) (66,609,871)
(1,238,791) (5,214,348)
———– ———–
(25,266,051) (30,142,270)
Profit before tax ———–
Provision for taxation-net 62,193,117 42,813,814
(19,485,455) (13,036,702)
Profit after tax ———– ———–
Other comprehensive income 42,707,662 29,777,112
Total comprehensive income for the year ———– ———–
42,707,662 29,777,112
Profit and loss appropriation account ———– ———–
Balance at the commencement of the year
Profit after tax for the year (84,716,290) (114,493,402)
Cash dividend for the year ended 31 December 2011 42,707,662 29,777,112
at Rs. 0.5 per share (2010: Rs. Nil per share)
(23,000,000)
Balance of accumulated losses at the end of the year ———– ———–
(65,008,628) (84,716,290)
Earnings per share-basic and diluted ———– ———–
0.93 0.84

For more information, contact:
CFO/ Company Secretary
TPL Direct Insurance Limited
Karachi Head Office: 172-B Tariq Road,
2nd floor, Najeeb Centre, Karachi?
Tel: (021) 3432-2555
Tel: (021) 111-000-301
Fax: (021) 3432-2515

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