The Karachi Stock Exchange Limited’s delivery of physical shares of Usman Textile Mills Limited
Karachi, August 07, 2013 (PPI-OT): We refer to your letter dated July 29, 2013 where you have requested CDC to dispatch physical shares of Usman Textile Mills Limited (UTML) of the pretext that the status of your Main Account is “Active” as is reflected in the Account Balance Statement.
In this regard, it is clarified that the admission of Investec Securities Limited (ISL) to the CDS pertaining to its Participant Id A01982 is under suspension. Such Subscription does not warrant blocking of accounts and sub-accounts residing under the suspended Participant ID. For further clarification, we are enclosing the Element Report in respect of ISL where status of its admission to the CDS is clearly reflected as “Suspended”. Since the shares of UTML are held under the proprietary account i.e. the House Account of ISL, same are subject to restriction in view of such suspension imposed pursuant to an Order dated October 09, 2013 of SECP.
Based on the above, we cannot accede to your request to provide the physical shares of UTML. You may however take up the matter with the relevant regulatory authorities.
For more information, contact:
Fazal Hussain Gaffoor
CFO and Company Secretary
The Karachi Stock Exchange Limited
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136